REGISTERED NUMBER: 03926608 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 August 2025

for

Walker Logistics Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

W J R Walker

P N Walker

C R Walker

SECRETARY:

C R Walker

REGISTERED OFFICE:

2 Pavilion Court

600 Pavilion Drive

Northampton

NN4 7SL

REGISTERED NUMBER:

03926608 (England and Wales)

AUDITORS:

Harris & Co (Accountants) Ltd, Statutory Auditor

2 Pavilion Court

600 Pavilion Drive

Northampton

NN4 7SL

Introduction

The directors present their strategic report of the company for the year ended 31 August 2025.

REVIEW OF BUSINESS

Business review

The Walker Logistics group is based at Membury and provides warehousing and fulfilment services to clients in the UK, mainland Europe and all over the world.

There were many positives from a year that delivered strong results for the business, most notably a near 50% increase in turnover.

We have now completed and are operational (as of April 2026) from our UK carbon net zero 135,000 sq. ft. warehouse which will comprise a mix of storage, operational space and offices. The building will increase the operational capacity of the business by more than 40% as well as create further opportunities for the existing complex within the core site.

As the business continues to grow we have invested in senior management hires to the position of Head of Operations, Head of Finance and Head of Projects, all bringing a wealth of experience and knowledge to help successful scalability.

We have diversified our sales/marketing strategies to now focus more heavily on AI which has led to a record number of enquiries. This has been streamlined to target companies with substantial order volume and lower storage requirements, resulting in higher yields but also brings a focus on gross profit margin, which will naturally reduce given the percentage of spend that is now attributed to delivery where traditionally the upsell rate has a smaller margin.

We have opened our first overseas location, securing a 10-year lease on a 60,000 sq. ft. state of the art warehouse in Kerkrade, Netherlands. It is locally managed whilst reporting to HQ and allows us to attract larger new contracts and companies who often look for both a UK and European operation to circumnavigate the complexities of cross-border fulfilment post Brexit.

Finally, we have become a B-Corp certified company demonstrating our business meets high standards of social and environmental performance, public transparency, and legal accountability, balancing profit with purpose. This means demonstrating sustainable warehousing, ethical labour practices, and efficient supply chain management which we pride ourselves on.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider the principal risks and uncertainties faced by the company to be financial related risks.

Financial risk - The principal risk surrounding the company is continuing to service its financial commitments. In particular, the risk around interest rates. Management have assessed this risk and considered various options to limit exposure but decided that the risk for the remainder of the term is not significant. Considerations for interest rate risk mitigations will be made closer to the renewal of facilities. In addition, as we transition to a higher spend on couriers, their payment terms are shorter than other suppliers, so we remain vigilant to working capital requirements and ways to scale the business model whilst not negatively impacting that area.

Financial key performance indicators

Sales, return on assets and EBITDA are key performance measures.

Other key performance indicators

The group proactively seek new ways to push the boundaries of operational excellence so our customers stay one step ahead of the game. A commitment to continuous improvement is at the heart of our culture, enhancing and sustaining our customers' long term competitiveness.

Our vision is conveyed by the following commitments:

- Creating and keeping up awareness about actual and foreseen needs of partners and customers using the best world class logistics, distribution, solutions, fulfilment and freight forwarding solutions.

-Realisation of service on time in a reliable, flexible and simple manner in such a way o try to exceed the customer's requirements.

-Consistent creating of organisation culture by building good employee relationships and approach related to customer satisfaction achievement

-The group are ambitious to exceed our partners' requirements offering them the highest quality solutions, including additional value by unique, innovative and complete logistics services.

The continuous improvement of our service quality, suitable storage in state of the art warehousing facilities and transportation and distribution conditions of goods are achieved by:

-Detailed analysis of our customers' needs.

-Full engagement of all employees to perform our strategy.

-Having educated and well experienced staff who continuously improve their qualifications.

-Pursuing to fulfill customer requirements at the highest level including individual expectation.

-Having modern technical equipment making possible to apply the newest logistics solutions.

-Continuous process improvement and having processes efficiency monitored.

-To gain competitive advantage for our customers by listening and working with them to bring inspired added value logistics solutions to them.

-To measure our performance to ensure we meet, and where possible, exceed our customers' expectations.

-Our management systems ensure continual improvement through periodic review of our policies.

ON BEHALF OF THE BOARD:

P N Walker - Director

6 May 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of storage and distribution.

DIVIDENDS

The total distribution of dividends for the year ended 31 August 2025 will be £ 130,220 .

DIRECTORS

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

W J R Walker

P N Walker

C R Walker

POLITICAL DONATIONS AND EXPENDITURE

The company made donations of £3,056 in the year to various causes.

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, Harris & Co (Accountants) Ltd, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P N Walker - Director

6 May 2026

Opinion

We have audited the financial statements of Walker Logistics Ltd (the 'company') for the year ended 31 August 2025 which comprise the Income Statement, Other Comprehensive Income, 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 August 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 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- The company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant: The Companies Act 2015 and 2006, UK employment legislation and UK health and safety legislation. we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

- We understood how the company is complying with those legal and regulatory frameworks by making enquiries through our review of relevant documentation.

- The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognize non-compliance with laws and regulations. Audit procedures performed by the engagement team included:

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; and

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

- As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

- Posting of unusual journals out of the normal course of business;

- Incorrectly recognising revenue in the wrong period that may inflate or deflate revenue;

- Posting of non business related expenses.

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 for 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.

Phillip J Harris BA (Hons) FCA BFP (Senior Statutory Auditor)

for and on behalf of Harris & Co (Accountants) Ltd, Statutory Auditor

2 Pavilion Court

600 Pavilion Drive

Northampton

NN4 7SL

6 May 2026

TURNOVER

14,848,351

10,041,718

Cost of sales

11,068,901

6,351,002

GROSS PROFIT

3,779,450

3,690,716

Administrative expenses

3,536,309

4,389,912

243,141

(699,196

)

Other operating income

44,412

10,229

OPERATING PROFIT/(LOSS)

5

287,553

(688,967

)

Interest receivable and similar income

-

6,532

287,553

(682,435

)

Interest payable and similar expenses

7

53,471

37,616

PROFIT/(LOSS) BEFORE TAXATION

234,082

(720,051

)

Tax on profit/(loss)

8

12,353

12,562

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

221,729

(732,613

)

PROFIT/(LOSS) FOR THE YEAR

221,729

(732,613

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

221,729

(732,613

)

FIXED ASSETS

Intangible assets

10

19,400

19,400

Tangible assets

11

261,885

386,769

Investments

12

8,511

8,511

289,796

414,680

CURRENT ASSETS

Debtors

13

5,007,489

3,019,983

Cash at bank

3,170

1,998,938

5,010,659

5,018,921

CREDITORS

Amounts falling due within one year

14

2,827,678

2,997,291

NET CURRENT ASSETS

2,182,981

2,021,630

TOTAL ASSETS LESS CURRENT LIABILITIES

2,472,777

2,436,310

CREDITORS

Amounts falling due after more than one year

15

-

(34,423

)

PROVISIONS FOR LIABILITIES

19

(56,980

)

(77,599

)

NET ASSETS

2,415,797

2,324,288

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings

21

2,415,697

2,324,188

SHAREHOLDERS' FUNDS

2,415,797

2,324,288

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2026 and were signed on its behalf by:

P N Walker - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 September 2023

100

3,056,801

3,056,901

Changes in equity

Total comprehensive income

-

(732,613

)

(732,613

)

Balance at 31 August 2024

100

2,324,188

2,324,288

Changes in equity

Dividends

-

(130,220

)

(130,220

)

Total comprehensive income

-

221,729

221,729

Balance at 31 August 2025

100

2,415,697

2,415,797

1.	STATUTORY INFORMATION

Walker Logistics Ltd 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

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

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.

Revenue

Revenue shown in the Income Statement represents amounts receivable from third parties in the ordinary course of business for services provided and is stated net of VAT and duty.

Revenue in respect to storage income is recognised on a straight line basis over the length of time goods are held in the warehouse.

Revenue in respect of fulfilment and logistics management services are recognised upon completion of the service and batch billed to the customer on a fortnight or monthly basis depending of volumes at an agreed rate in line with the contract.

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirers interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition in 2017. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Income Statement over its useful economic life.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

In 2024, the directors reassessed the remaining useful life of the goodwill following a number of developments within the business. As a result of this review, the remaining goodwill has been fully written off in 2024.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Development costs are initially recorded at cost and depreciated over three years.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. 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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements- 10-15 years straight line

Plant and machinery- 20% Straight line

Motor vehicles- 20-25% Straight line

Fixtures and fittings- 20% Straight line

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 in profit or loss.

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

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.

Pensions

Defined contribution pension plan

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 in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Going concern

At the year end the Parent owed the company a balance of £844,069 (2024, the company owed the parent - £1,554,524) to its parent undertaking. The Company has obtained support from its parent undertaking who have confirmed that they will not recall debts until cashflow permit. On this basis and having considered the future cashflow forecasts, the directors consider the Company to be a going concern and has the necessary financial support to meet its debts as they fall due for at least 12 months from the signing of the financial statements.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

When preparing the financial statements, management is required to make estimates and assumptions which affect expenses and assets. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Useful life of Goodwill

Management have estimated that the useful life of Goodwill acquired has a useful life of 9 years on the basis that future profits occurring as a result of this acquisition will match amortisation over that period.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,213,937

2,877,415

Social security costs

145,660

118,758

Other pension costs

31,154

28,784

4,390,751

3,024,957

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

2025

2024

Directors

1

1

Employees

86

86

87

87

2025

2024

£

£

Directors' remuneration

294,300

116,686

Information regarding the highest paid director for the year ended 31 August 2025 is as follows:

2025

£

Emoluments etc

294,300

5.	OPERATING PROFIT/(LOSS)

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

2025

2024

£

£

Depreciation - owned assets

133,664

164,540

Profit on disposal of fixed assets

(48,000

)

(12,197

)

Goodwill amortisation

-

411,791

Foreign exchange differences

3,588

1,968

6.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

15,600

16,925

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

47,851

33,572

Hire purchase

5,620

4,044

53,471

37,616

8.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

32,972

-

Deferred tax

(20,619

)

12,562

Tax on profit/(loss)

12,353

12,562

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

234,082

(720,051

)

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

58,521

(180,013

)

Effects of:

Expenses not deductible for tax purposes

7,890

2,195

Income not taxable for tax purposes

(12,000

)

-

Depreciation in excess of capital allowances

17,796

277,282

Utilisation of tax losses

(29,915

)

(99,464

)

Deferred tax

(20,619

)

12,562

Tax Credit HMRC

(9,320

)

-

Total tax charge

12,353

12,562

9.

DIVIDENDS

2025

2024

£

£

Interim

130,220

-

10.	INTANGIBLE FIXED ASSETS

Development

Goodwill

costs

Totals

£

£

£

COST

At 1 September 2024

and 31 August 2025

2,400,000

19,400

2,419,400

AMORTISATION

At 1 September 2024

and 31 August 2025

2,400,000

-

2,400,000

NET BOOK VALUE

At 31 August 2025

-

19,400

19,400

At 31 August 2024

-

19,400

19,400

11.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 September 2024

231,073

559,842

162,628

336,979

1,290,522

Additions

-

50,173

12,000

-

62,173

Disposals

-

-

-

(163,979

)

(163,979

)

Reclassification/transfer

-

13,149

(4,652

)

30,209

38,706

At 31 August 2025

231,073

623,164

169,976

203,209

1,227,422

DEPRECIATION

At 1 September 2024

171,442

338,268

146,778

247,265

903,753

Charge for year

18,361

86,826

18,031

10,446

133,664

Eliminated on disposal

-

-

-

(102,031

)

(102,031

)

Reclassification/transfer

-

3,456

(3,514

)

30,209

30,151

At 31 August 2025

189,803

428,550

161,295

185,889

965,537

NET BOOK VALUE

At 31 August 2025

41,270

194,614

8,681

17,320

261,885

At 31 August 2024

59,631

221,574

15,850

89,714

386,769

12.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 September 2024

and 31 August 2025

8,511

NET BOOK VALUE

At 31 August 2025

8,511

At 31 August 2024

8,511