REGISTERED NUMBER: 01910661 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2025

for

Fabrikat (Nottingham) Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Profit and Loss Account

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

M Batty

M Caetano

B Mota

AP Antunes

T Vieira

REGISTERED OFFICE:

Hamilton Road

Sutton in Ashfield

Nottingham

NG17 5LN

REGISTERED NUMBER:

01910661 (England and Wales)

AUDITORS:

Bates Weston Audit Ltd

Statutory Auditors

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

SOLICITORS:

Nelsons

Sterne House

Lodge Lane

Derby

DE1 3WD

Financial Overview

Profit on ordinary activities before taxation was £936,149 (2024: £1,636,871). The directors are pleased with the result for the period in what continued to be a difficult trading market and are confident for the coming year.

Financial Performance

Year to

Year to

31 Dec 2025

31 Dec 2024

Change

Change

£'000000

£'000000

£'000000

%

Turnover

18,644

20,014

(1,370

)

(6.8

)

Gross Profit

3,639

3,936

(297

)

(7.5

)

Profit on ordinary activities before taxation

936

1,637

(701

)

(42.8

)

Strategy

Further progress was made during the period to ensuring that the company continues to achieve a balance between its product ranges and continues to strive to improve market share, particularly in the bespoke section of the market.

Turnover

Overall sales have shown a decrease due to a competitive market.

Gross Margin

Margins remain in line with previous years which is a positive considering the competitive nature of the industry, however, the time frame of bespoke products going from order status to sale status remains longer than we would like.

Operating Costs

Operating costs increased with market standards; higher staff levels were maintained to continue output levels.

Capital Expenditure

The directors feel that investment in our material handling capability is necessary and have continued to invest.

Summary of Key Performance Indicators

2025

2024

Actual

Target

Actual

Target

Sales £'000

18,644

21,030

20,014

22,520

Sales growth % compared to prior year

(11

)

5

(6

)

6

Gross Profit Margin %

20

35

20

25

Net Profit Before Tax Margin %

5

11

8

15

Future Developments for the Business/Future Outlook

The company believes that continuing to place emphasis on quality, design and delivery will enable the business to improve both its already strong reputation and market position as the market improves.

Principal Risks and Uncertainties

The management of the business and the nature of the company's strategy are subject to a number of risks.

The directors feel that the principal risk is that of not achieving turnover and the company closely monitors this. There is also the risk of gross profit reduction and cost increases against anticipated performance. This again is closely monitored by the directors with any necessary action undertaken.

Financial risk management objectives and policies

The company uses basic financial instruments, comprising bank borrowings and other liquid resources and various other items such as trade debtors and creditors that arise directly from its operations. The main purpose of these financial instruments is to maintain finance for the company's operations. The main risks arising from the company's financial instruments are interest rate risk and liquidity risk. The directors review and agree policies for managing each of these risks and they are summarised below:

Interest rate risk

The company finances its operations through a mixture of retained profits, intercompany accounts and bank borrowings. The company's exposure to interest rate fluctuations on its overdraft is managed on a group basis.

Liquidity risk

The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Primarily this was achieved through bank borrowings. The company policy throughout the period has been to ensure continuity of funding and short term flexibility was achieved by overdraft facilities.

ON BEHALF OF THE BOARD:

AP Antunes - Director

18 March 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacture of street lighting columns, traffic management and telecommunication structures, pedestrian guard rails, parapets, fencing and street furniture.

DIVIDENDS

Interim dividends per share were paid as follows:

£110.00

29 August 2025

£49.887

30 December 2025

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2025 will be £1,598,870.

DIRECTORS

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

M Batty

M Caetano

B Mota

A Antunes

T Vieira

Other changes in directors holding office are as follows:

P Allen - resigned 26 August 2025

M Scott - resigned 26 August 2025

DISCLOSURE IN THE STRATEGIC REPORT

The matters required to be disclosed under SI (2008) 410 Sch 7 are contained within the Strategic Report as is applicable in accordance with s414C(11) of the Companies Act 2006, this being future developments, research and development activities of the group, financial risk management and the financial instruments used.

DIRECTORS' RESPONSIBILITIES STATEMENT

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

AP Antunes - Director

18 March 2026

Opinion

We have audited the financial statements of Fabrikat (Nottingham) Limited (the 'company') for the year ended 31 December 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and 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 31 December 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 Directors' Responsibilities Statement set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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

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.

Based on our understanding of the group and industry in which it operates, we considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. Audit procedures performed by the engagement team included:

-

Enquiry of management around actual and potential litigation and claims;

-

Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

-

Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website 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.

Wayne Thomas FCA (Senior Statutory Auditor)

for and on behalf of Bates Weston Audit Ltd

Statutory Auditors

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

27 April 2026

TURNOVER

18,644,363

20,013,805

Cost of sales

15,005,284

16,077,565

GROSS PROFIT

3,639,079

3,936,240

Distribution costs

1,319,777

1,184,089

Administrative expenses

1,251,270

1,109,627

2,571,047

2,293,716

OPERATING PROFIT

5

1,068,032

1,642,524

Interest payable and similar expenses

6

131,883

5,653

PROFIT BEFORE TAXATION

936,149

1,636,871

Tax on profit

7

(246,000

)

38,000

PROFIT FOR THE FINANCIAL YEAR

1,182,149

1,598,871

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,182,149

1,598,871

FIXED ASSETS

Tangible assets

9

2,570,791

1,293,516

CURRENT ASSETS

Stocks

10

2,657,344

2,438,301

Debtors

11

4,827,113

4,565,077

Cash at bank

567,800

1,540,888

8,052,257

8,544,266

CREDITORS

Amounts falling due within one year

12

3,847,659

3,611,699

NET CURRENT ASSETS

4,204,598

4,932,567

TOTAL ASSETS LESS CURRENT LIABILITIES

6,775,389

6,226,083

CREDITORS

Amounts falling due after more than one year

13

(1,136,235

)

(36,208

)

PROVISIONS FOR LIABILITIES

16

-

(134,000

)

NET ASSETS

5,639,154

6,055,875

CAPITAL AND RESERVES

Called up share capital

17

10,000

10,000

Revaluation reserve

18

63,046

64,969

Retained earnings

18

5,566,108

5,980,906

SHAREHOLDERS' FUNDS

5,639,154

6,055,875

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2026 and were signed on its behalf by:

AP Antunes - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2024

10,000

5,282,419

66,892

5,359,311

Changes in equity

Dividends

-

(902,307

)

-

(902,307

)

Total comprehensive income

-

1,600,794

(1,923

)

1,598,871

Balance at 31 December 2024

10,000

5,980,906

64,969

6,055,875

Changes in equity

Dividends

-

(1,598,870

)

-

(1,598,870

)

Total comprehensive income

-

1,184,072

(1,923

)

1,182,149

Balance at 31 December 2025

10,000

5,566,108

63,046

5,639,154

1.	STATUTORY INFORMATION

Fabrikat (Nottingham) 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 as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Turnover

Turnover from the sales of goods is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the previously agreed amounts upon payment. These criteria are considered to be met when the goods are delivered to the buyer.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at historical cost or deemed cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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

Freehold property

- Straight line over 33 years

Plant and machinery

- 20% on cost

Motor vehicles

- 25% on cost

Office equipment

- 20% on cost

Freehold land is not depreciated.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'other operating income' in the profit and loss account.

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items, cost is determined on a first in first out basis.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

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

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the profit and loss account.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account as incurred.

Hire purchase

Those held under hire purchase contracts are depreciated over their estimated useful lives. The

interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they fall due. Amounts not paid are shown in accruals on the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Financial instruments

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Bank financing arrangements

The company has a factoring arrangement without recourse to manage its working capital and liquidity needs. Under such arrangements, trade receivables are sold or assigned to a third-party factor in exchange for immediate cash. Factored receivables are derecognised from the balance sheet when the company has transferred substantially all the risks and rewards of ownership to the factor. The proceeds from factoring are recognised as cash received. The interest element and other facility provider's charges are recognised within the profit and loss account as they accrue.

Revaluation reserve

The revaluation reserve consists of gains on revaluations to land and buildings prior to FRS 102 adoption. Deferred tax on these gains is assessed on an annual basis.

Judgements in applying accounting policies and key sources of estimation uncertainty

Tangible fixed assets are depreciated over their useful economic lives taking in to account their 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 the asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken in to account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values.

The recoverability of debtors is assessed on the likelihood and circumstances of the particular cost.

The cost of certain stock is estimated based on weight.

The valuation of work in progress and finished goods is based on direct and indirect costs to date, indirect costs are estimated based on a multiple of labour costs which is reassessed each year.

Stock that has not been replenished for 12 months is considered to be obsolete and is written off to the Profit and Loss Account.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,130,755

3,996,090

Social security costs

513,919

467,728

Other pension costs

75,919

81,623

4,720,593

4,545,441

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

2025

2024

Production staff

94

95

Administrative staff

7

7

101

102

4.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

225,304

300,000

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

100,000

100,000

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

232,981

172,530

Loss on disposal of fixed assets

8,753

-

Auditors' remuneration

20,000

17,500

Hire of plant and machinery

-

41,827

Auditors' remuneration for non-audit work

3,500

3,250

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Other bank financing interest

122,226

4,042

Hire purchase

9,657

1,611

131,883

5,653

7.

TAXATION

Analysis of the tax (credit)/charge

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

2025

2024

£

£

Deferred tax

(246,000

)

38,000

Tax on profit

(246,000

)

38,000

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

Reconciliation of total tax (credit)/charge included in profit and loss

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

2025

2024

£

£

Profit before tax

936,149

1,636,871

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

234,037

409,218

Effects of:

Expenses not deductible for tax purposes

2,188

-

Depreciation in excess of capital allowances

2,724

-

Other timing differences

188

4,303

Research and development enhanced relief

-

(100,167

)

Group relief

-

(275,354

)

Land remediation adjustment

(485,137

)

-

Total tax (credit)/charge

(246,000

)

38,000

Deferred tax

2025

2024

£

£

Accelerated capital allowances

134,000

134,000

Effect of losses carried forward

(246,000

)

-

(112,000

)

134,000

8.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £0.01 each

Interim

1,598,870

902,307

9.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Office

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

900,000

2,358,109

204,409

429,303

3,891,821

Additions

1,294,032

125,945

34,785

65,447

1,520,209

Disposals

-

-

(11,944

)

-

(11,944

)

At 31 December 2025

2,194,032

2,484,054

227,250

494,750

5,400,086

DEPRECIATION

At 1 January 2025

223,352

1,896,828

102,459

375,666

2,598,305

Charge for year

23,028

152,433

37,761

19,759

232,981

Eliminated on disposal

-

-

(1,991

)

-

(1,991

)

At 31 December 2025

246,380

2,049,261

138,229

395,425

2,829,295

NET BOOK VALUE

At 31 December 2025

1,947,652

434,793

89,021

99,325

2,570,791

At 31 December 2024

676,648

461,281

101,950

53,637

1,293,516

Included in cost of land and buildings is freehold land of £ 241,071 (2024 - £ 241,071 ) which is not depreciated.

Land and buildings were valued on an open market basis on 1 November 2013 by an independent valuer at £900,000 and this was the deemed cost at the date of transition to FRS 102 which was 1 January 2015.

If land and buildings had not been revalued they would have been included at a carrying amount of £104,706 (2024: £122,783).

10.

STOCKS

2025

2024

£

£

Raw materials

1,586,097

1,556,595

Work-in-progress

481,010

248,265

Finished goods

590,237

633,441

2,657,344

2,438,301

11.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

2,077,249

1,769,926

Amounts owed by group undertakings

2,282,486

2,310,677

Tax

-

152,881

Prepayments and accrued income

355,378

331,593

4,715,113

4,565,077