REGISTERED NUMBER: 02924320 (England and Wales)

SUN-WA TECHNOS (UK) CONNECT

SOLUTIONS LTD

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Page

Company Information

1

Report of the Directors

2

to

3

Report of the Independent Auditors

4

to

6

Statement of Income and Retained Earnings

7

Statement of Financial Position

8

Notes to the Financial Statements

9

to

18

DIRECTORS:

Mr M Yamamoto

Mr Y Kumasaka

SECRETARY:

Oakwood Corporate Secretary Limited

REGISTERED OFFICE:

3rd Floor

1 Ashley Road

ALTRINCHAM

Cheshire

WA14 2DT

REGISTERED NUMBER:

02924320 (England and Wales)

AUDITORS:

Morris Owen

Statutory Auditors

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

HSBC Bank Plc

The Forum

Marlborough Road

SWINDON

Wiltshire

SN3 1QT

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

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of the sale of connectors, and the manufacture and sale of cable assemblies.

EVENTS SINCE THE END OF THE YEAR

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

DIRECTORS

Mr Y Kumasaka has held office during the whole of the period from 1 April 2024 to the date of this report.

Other changes in directors holding office are as follows:

Mr O Mizuno - resigned 27 June 2024

Mr K Onoe and Mr T Inukai were appointed as directors after 31 March 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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, Morris Owen, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr Y Kumasaka - Director

14 May 2026

Opinion

We have audited the financial statements of Sun-Wa Technos (UK) Connect Solutions Ltd (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 March 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 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has 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 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; or

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

Our approach to identifying and assessing the 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 through the audit planning process;

-

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 company's industry;

-

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, taxation legislation, employment legislation and Restriction of Hazardous Substances (RoHS) regulations.

-

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 this 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.

As a result of the company having a small management and finance team, we identified a risk of fraud through management bias and ability to override of controls, including lack of segregation of duties, which could lead to a misappropriation of cash and other assets. To address this we:

-

performed analytical procedures to identify any unusual or unexpected relationships;

-

tested journal entries and sales credit notes to identify unusual transactions;

-

assessed whether judgements and assumptions made in determining 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;

-

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

-

reviewing correspondence with HM Revenue & Customs (HMRC) and any legal correspondence.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr David John Marshall (Senior Statutory Auditor)

for and on behalf of Morris Owen

Statutory Auditors

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

15 May 2026

TURNOVER

5,409,974

5,320,632

Cost of sales

4,181,948

4,414,605

GROSS PROFIT

1,228,026

906,027

Administrative expenses

1,210,629

1,060,522

OPERATING PROFIT/(LOSS)

4

17,397

(154,495

)

Interest payable and similar expenses

5

3,619

3,390

PROFIT/(LOSS) BEFORE TAXATION

13,778

(157,885

)

Tax on profit/(loss)

6

-

-

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

13,778

(157,885

)

Retained earnings at beginning of year

(146,306

)

11,579

RETAINED EARNINGS AT END OF YEAR

(132,528

)

(146,306

)

FIXED ASSETS

Tangible assets

7

71,237

78,802

CURRENT ASSETS

Stocks

8

824,851

967,047

Debtors

9

701,203

903,946

Cash at bank and in hand

241,039

195,071

1,767,093

2,066,064

CREDITORS

Amounts falling due within one year

10

1,285,966

1,602,858

NET CURRENT ASSETS

481,127

463,206

TOTAL ASSETS LESS CURRENT LIABILITIES

552,364

542,008

CREDITORS

Amounts falling due after more than one year

11

(29,892

)

(39,314

)

PROVISIONS FOR LIABILITIES

14

(35,000

)

(29,000

)

NET ASSETS

487,472

473,694

CAPITAL AND RESERVES

Called up share capital

15

620,000

620,000

Retained earnings

16

(132,528

)

(146,306

)

SHAREHOLDERS' FUNDS

487,472

473,694

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

Mr Y Kumasaka - Director

1.	STATUTORY INFORMATION

Sun-Wa Technos (UK) Connect Solutions Ltd is a private company, limited by shares, registered in England and wales. The company's registered number is 02924320. The registered office address is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.

The company's place of business is Unit B1 Marston Gate, South Marston park, Swindon, Wiltshire, SN3 4DE.

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparation

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 directors have reviewed the company's financial results post year end, along with future trading forecasts and cash flow requirements for the years ahead, following the sale of the company to its new parent company Sun-Wa Technos Corporation. As a result of the change in ownership and associated integration into the Sun-Wa Technos Corporation Group, the company is expected to go through a period of change, investment and growth as the new owners implement their plans for the future of the company. These plans are still in very early stages of development and as such, the company is not currently forecast to be profitable until the financial year ended 31 March 2027.

The directors have however received a letter of support from the parent undertaking stating that the company will be provided with sufficient financial and operational support as may be required, to support the company for the foreseeable future in attaining their future objectives, until such a time the company becomes self-sufficient. Further to this the parent company have provided written assurances that it intends to support the operations of the company as a trading entity in the UK, for the foreseeable future. For these reasons the directors continue to adopt the going concern basis in preparing the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions 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;

•

the requirement of paragraph 3.17(d);

•

the requirement of paragraph 33.7.

Related party exemption

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

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

-

Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.

-

Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

-

Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

-

Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

-

Determine an appropriate provision for dilapidations by assessing the probable future obligations expected to exist at the end of the property lease.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised when the significant risks and rewards of ownership have passed to the customer, usually when the goods are despatched or made available for collection.

Tangible fixed assets

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold improvements

-

Lease term

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

Straight line over 6 years

Office equipment

-

20% on cost

Tangible fixed assets are stated historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost include 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.

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

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the statement of comprehensive income.

Stocks and work in progress

Stocks are measured on a first-in, first-out basis, at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. The directors estimate a provision for obsolete and slow moving items based on their expectation of future sales of these items, combined with the risks of technological obsolescence.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term trade creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

Foreign currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of the exchange ruling at the balance sheet date.

All differences are taken to the profit and loss account.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,463,239

1,353,150

Social security costs

167,856

149,294

Other pension costs

150,213

30,730

1,781,308

1,533,174

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

2025

2024

Manufacturing staff

31

23

Administration staff

10

11

41

34

2025

2024

£

£

Directors' remuneration

84,240

78,960

Directors' pension contributions to money purchase schemes

4,544

4,452

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

Money purchase schemes

1

1

4.	OPERATING PROFIT/(LOSS)

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

2025

2024

£

£

Hire of plant and machinery

10,330

9,263

Other operating leases

121,256

109,288

Depreciation - owned assets

5,917

6,636

Depreciation - assets on hire purchase contracts and finance leases

19,476

17,092

Auditors' remuneration

21,000

19,200

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

-

66

Hire purchase

100

3,144

Leasing

3,519

180

3,619

3,390

6.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Reconciliation of total tax 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/(loss) before tax

13,778

(157,885

)

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

3,445

(39,471

)

Effects of:

Expenses not deductible for tax purposes

854

372

Utilisation of tax losses

(4,299

)

-

Unprovided tax losses

-

39,099

Total tax charge

-

-

The company has unprovided corporation tax losses of £1,344,883 (2024: £1,369,977) available to offset against future taxable profits.

7.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

improvements

machinery

fittings

£

£

£

COST

At 1 April 2024

154,063

213,063

75,087

Additions

-

17,518

-

At 31 March 2025

154,063

230,581

75,087

DEPRECIATION

At 1 April 2024

150,100

183,420

73,982

Charge for year

1,132

11,138

270

At 31 March 2025

151,232

194,558

74,252

NET BOOK VALUE

At 31 March 2025

2,831

36,023

835

At 31 March 2024

3,963

29,643

1,105

Motor

Office

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

40,935

107,811

590,959

Additions

-

310

17,828

At 31 March 2025

40,935

108,121

608,787

DEPRECIATION

At 1 April 2024

8,187

96,468

512,157

Charge for year

8,187

4,666

25,393

At 31 March 2025

16,374

101,134

537,550

NET BOOK VALUE

At 31 March 2025

24,561

6,987

71,237

At 31 March 2024

32,748

11,343

78,802

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and

Motor

Office

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

40,553

40,935

3,977

85,465

Additions

14,294

-

-

14,294

At 31 March 2025

54,847

40,935

3,977

99,759

DEPRECIATION

At 1 April 2024

11,502

8,187

2,717

22,406

Charge for year

10,493

8,187

796

19,476

At 31 March 2025

21,995

16,374

3,513

41,882

NET BOOK VALUE

At 31 March 2025

32,852

24,561

464

57,877

At 31 March 2024

29,051

32,748

1,260

63,059

8.

STOCKS

2025

2024

£

£

Stocks

225,391

233,840

Raw materials

540,939

709,616

Work-in-progress

58,521

23,591

824,851

967,047

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

640,227

848,608

Other debtors

127

127

Prepayments and accrued income

60,849

55,211

701,203

903,946

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts and finance leases (see note 12)

19,984

18,060

Trade creditors

580,597

769,124

Amounts owed to group undertakings

389,725

454,199

Social security and other taxes

44,710

39,789

VAT

66,513

60,213

Other creditors

10,464

15,251

Accruals and deferred income

173,973

246,222

1,285,966

1,602,858

On 31 October 2025, after the balance sheet date, the amounts owed to group undertakings stood at a balance of £344,416 and repayment of which was renegotiated, as part of the sale and acquisition of the company by Honda Tsushin Kogyo Co Ltd. to Sun-Wa Technos Corporation, into equal monthly installments over a period of two years from that date.

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts and finance leases (see note 12)

29,892

39,314

12.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

2025

2024

2025

2024

£

£

£

£

Net obligations repayable:

Within one year

19,478

17,199

506

861

Between one and five years

29,892

38,730

-

584

49,370

55,929

506

1,445