REGISTERED NUMBER: 01168510 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

MACPHERSON & COLBURN LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

6

Balance Sheet

7

Statement of Changes in Equity

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

DIRECTOR:

R J Colburn

SECRETARY:

J A Colburn

REGISTERED OFFICE:

Westbourne House

Bishopstone Lane

Goddards Green

West Sussex

BN6 9HG

REGISTERED NUMBER:

01168510 (England and Wales)

AUDITORS:

Galloways Accounting

Statutory Auditors

15 West Street

Brighton

East Sussex

BN1 2RL

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

The Company maintains its position as one of the largest UK based Vehicle Rescue and Recovery operators and is the clear market leader in Southern England.

The core product is the roadside breakdown element of the business, ancillary services continue to develop primarily in the mobile service and repair sector. Additional services have been added with higher potential margins once fully established.

The company's activities are organised into the following four divisions:

- Roadside Repair, Recovery and Transportation of all vehicles

- Secure Parking and Storage including forensic examination facilities

- Workshop and on site based service and repair for all vehicles

- Specialist Motorsport preparation

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, gross margin and return on capital employed.

Turnover - 2025 £19,814,250, 2024 £20,035,318

Gross Margin - 2025 8.66%, 2024 7.65%

Return on capital employed - 2025 -5.93%, 2024 -7.84%

The trading year was again a difficult one with further rises in both labour costs and raw materials. Our corporate clients, have, in the main, refused to acknowledge these increased costs and instead choose to place work with smaller less compliant businesses rather than address the root cause. We continue to review financial costs and future legislation changes impacting labour costs on a regular basis.

Late 2024 saw the Company relocate the Kent operation from Wrotham to Westerham to make significant operational savings.

Strategically the Company continues to develop ways to earn additional revenue from individual customers following many of the 170,000 breakdowns attended annually.

Operationally there is still significant additional market share available if the Company choose to increase capacity.

Transportation continues to be an integral part of the Company's business as we seek to use of economies of scale to bring together other forms of vehicles movements outside of rescue recovery, in doing so lowering our cost base.

Clean air legislation in many UK cities has increased the requirement to replace vehicle fleet and now the Company operates one of the most low emission compliant rescue fleets in the UK.

The labour market in Southern England continues to be extremely challenging and the Company is seeking to improve staff retention in our challenging 24/7 industry.

Continued investment in training new recruits is a key strategic objective.

As for many businesses of our size, the business environment in which we operate continues to be challenging. The rescue recovery market in the UK is highly competitive and margins continue to be tight. We continue to face competition from smaller less compliant operators. We are of course also subject to consumer spending patterns and consumers' overall level of disposal income within our economy.

With these risks and uncertainties in mind, we are aware that any plans for the future development of the business may be subject to unforeseen future events outside of our control.

ON BEHALF OF THE BOARD:

R J Colburn - Director

27 May 2026

The director presents his report with the financial statements of the company for the year ended 31 May 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of vehicle rescue and recovery operators.

DIVIDENDS

No dividends will be distributed for the year ended 31 May 2025.

No dividends were distributed for the year ended 31 May 2024.

DIRECTORS

R J Colburn has held office during the whole of the period from 1 June 2024 to the date of this report.

Other changes in directors holding office are as follows:

N J Macpherson ceased to be a director after 31 May 2025 but prior to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

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

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

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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, Galloways Accounting, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R J Colburn - Director

27 May 2026

Opinion

We have audited the financial statements of Macpherson & Colburn Limited (the 'company') for the year ended 31 May 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 May 2025 and of its loss 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 director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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:

Based on our understanding of the company and industry, we considered the risk of non-compliance with laws and regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as Companies Act 2006 and FRS 102. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that principal risks were related to revenue recognition, under-provision of accruals and estimation of provisions. Audit procedures performed included:

- Enquiring of management whether there were instances of non-compliance with laws and regulation or fraud;

- Review of legal expenses for evidence of fees relating to non-compliance;

- Challenging assumptions and judgements made by management in determining significant accounting estimates;

- Reviewing journal entries for unusual accounting estimates;

- Substantive procedures to test that sales occured and were recognised as revenue in the financial statements in the correct period; and

- Substantive procedures to test that accrued expenses recognised were complete.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through 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.

Christian Heeger BSc BFP FCA (Senior Statutory Auditor)

for and on behalf of Galloways Accounting

Statutory Auditors

15 West Street

Brighton

East Sussex

BN1 2RL

27 May 2026

TURNOVER

3

19,814,250

20,035,318

Cost of sales

(18,097,883

)

(18,502,167

)

GROSS PROFIT

1,716,367

1,533,151

Administrative expenses

(2,053,435

)

(1,969,539

)

(337,068

)

(436,388

)

Other operating income

120,995

103,249

OPERATING LOSS

5

(216,073

)

(333,139

)

Interest payable and similar expenses

6

(210,047

)

(188,560

)

LOSS BEFORE TAXATION

(426,120

)

(521,699

)

Tax on loss

7

105,600

112,971

LOSS FOR THE FINANCIAL YEAR

(320,520

)

(408,728

)

OTHER COMPREHENSIVE INCOME

Fair value reserve

18,700

399,399

Income tax relating to other comprehensive income

-

(91,303

)

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

18,700

308,096

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(301,820

)

(100,632

)

FIXED ASSETS

Intangible assets

8

-

-

Tangible assets

9

5,070,102

5,165,206

Investment property

10

-

900,000

5,070,102

6,065,206

CURRENT ASSETS

Stocks

11

81,356

82,264

Debtors

12

1,905,333

2,213,031

Cash at bank and in hand

1,018,864

499,035

3,005,553

2,794,330

CREDITORS

Amounts falling due within one year

13

4,433,518

4,608,114

NET CURRENT LIABILITIES

(1,427,965

)

(1,813,784

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,642,137

4,251,422

CREDITORS

Amounts falling due after more than one year

14

(2,012,504

)

(2,214,369

)

PROVISIONS FOR LIABILITIES

18

(245,866

)

(351,466

)

NET ASSETS

1,383,767

1,685,587

CAPITAL AND RESERVES

Called up share capital

19

1,000

1,000

Capital redemption reserve

250

250

Fair value reserve

292,608

796,580

Retained earnings

1,089,909

887,757

SHAREHOLDERS' FUNDS

1,383,767

1,685,587

The financial statements were approved by the director and authorised for issue on 27 May 2026 and were signed by:

R J Colburn - Director

Called up

Capital

Fair

share

Retained

redemption

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 June 2023

1,000

1,296,485

250

488,484

1,786,219

Changes in equity

Total comprehensive income

-

(408,728

)

-

308,096

(100,632

)

Balance at 31 May 2024

1,000

887,757

250

796,580

1,685,587

Changes in equity

Total comprehensive income

-

(320,520

)

-

18,700

(301,820

)

Transfer between reserves

-

522,672

-

(522,672

)

-

Balance at 31 May 2025

1,000

1,089,909

250

292,608

1,383,767

Cash flows from operating activities

Cash generated from operations

1

641,935

1,306,025

Net cash from operating activities

641,935

1,306,025

Cash flows from investing activities

Purchase of tangible fixed assets

(84,618

)

(327,166

)

Sale of tangible fixed assets

381,205

129,400

Proceeds on sale of investment property

925,000

-

Net cash from investing activities

1,221,587

(197,766

)

Cash flows from financing activities

Loan repayments in year

(148,466

)

(145,416

)

Finance lease and HP repayments in year

(985,180

)

(894,724

)

Interest paid

(48,055

)

(38,629

)

Interest element of HP payments paid

(161,992

)

(149,931

)

Net cash from financing activities

(1,343,693

)

(1,228,700

)

Increase/(decrease) in cash and cash equivalents

519,829

(120,441

)

Cash and cash equivalents at beginning of year

2

499,035

619,476

Cash and cash equivalents at end of year

2

1,018,864

499,035

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

2025

2024

£

£

Loss before taxation

(426,120

)

(521,699

)

Depreciation charges

905,415

855,051

Profit on disposal of fixed assets

(206,527

)

(17,323

)

Finance costs

210,047

188,560

482,815

504,589

Decrease/(increase) in stocks

908

(2,831

)

Decrease/(increase) in trade and other debtors

307,698

(105,301

)

(Decrease)/increase in trade and other creditors

(149,486

)

909,568

Cash generated from operations

641,935

1,306,025

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 May 2025

31.5.25

1.6.24

£

£

Cash and cash equivalents

1,018,864

499,035

Year ended 31 May 2024

31.5.24

1.6.23

£

£

Cash and cash equivalents

499,035

619,476

3.	ANALYSIS OF CHANGES IN NET DEBT

Other

non-cash

At 1.6.24

Cash flow

changes

At 31.5.25

£

£

£

£

Net cash

Cash at bank

and in hand

499,035

519,829

1,018,864

499,035

519,829

1,018,864

Debt

Finance leases

(2,595,439

)

985,180

(906,671

)

(2,516,930

)

Debts falling due

within 1 year

(149,624

)

148,466

(145,781

)

(146,939

)

Debts falling due

after 1 year

(479,222

)

-

145,781

(333,441

)

(3,224,285

)

1,133,646

(906,671

)

(2,997,310

)

Total

(2,725,250

)

1,653,475

(906,671

)

(1,978,446

)

1.	STATUTORY INFORMATION

Macpherson & Colburn 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.

The financial statements are presented in Sterling (£) and rounded to the nearest £1.

Going concern

The directors have prepared the financial statements on a going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, taking into account the company's current financial position and forecasted performance.

The company has incurred a loss in the year and have prepared forecasts for the period to 31 May 2027. The forecasts include a reasonable allowance for the impact of the current economic environment and uncertainty as a result of the cost of living increase and its impact on costs.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. Revenue from the provision of services is recognised at the point the service is delivered which is when the vehicle is rescued or recovered.

Tangible fixed assets

Tangible fixed assets are recognised at cost with the exception of freehold property which is at valuation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

- Straight line over 50 years

Improvements to property

- Straight line over 7 years

Plant and machinery

- 25% on reducing balance

Fixtures and fittings

- 25% on reducing balance

Motor vehicles

- 20% on reducing balance

Freehold land held by the company is not depreciated.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stock is calculated on a first in, first out basis.

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 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.

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.

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Sales invoice discount advances

The company has a recourse sales invoice discounting agreement in place. The discounter has been assigned certain book trade debts, in return for a credit facility to the company. The discounter has the right to require the company to repurchase unpaid debts and therefore the company has retained the significant benefits and risks relating to the debts. The amortised cost of the credit facility is recognised in liabilities. All charges and interest payable are charged to the profit and loss account.

3.

TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company and arose wholly within the United Kingdom.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

9,560,835

9,410,343

Social security costs

956,089

1,068,457

Other pension costs

158,482

204,667

10,675,406

10,683,467

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

2025

2024

Management staff

2

2

Direct staff

244

242

246

244

2025

2024

£

£

Directors' remuneration

138,000

131,033

Directors' pension contributions to money purchase schemes

6,200

6,200

5.	OPERATING LOSS

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

2025

2024

£

£

Hire of plant and machinery

314,100

246,102

Depreciation - owned assets

189,280

169,611

Depreciation - assets on hire purchase contracts

716,135

685,440

Profit on disposal of fixed assets

(206,527

)

(17,323

)

Auditors' remuneration

29,500

23,150

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

48,055

38,629

Hire purchase

161,992

149,931

210,047

188,560

7.

TAXATION

Analysis of the tax credit

The tax credit on the loss for the year was as follows:

2025

2024

£

£

Deferred tax

(105,600

)

(112,971

)

Tax on loss

(105,600

)

(112,971

)

Reconciliation of total tax credit included in profit and loss

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

2025

2024

£

£

Loss before tax

(426,120

)

(521,699

)

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

(106,530

)

(130,425

)

Effects of:

Expenses not deductible for tax purposes

(305

)

5,214

Utilisation of tax losses

-

2,848

Fixed asset difference

1,235

9,392

Total tax credit

(105,600

)

(112,971

)

Tax effects relating to effects of other comprehensive income

2025

Gross

Tax

Net

£

£

£

Fair value reserve

18,700

-

18,700

2024

Gross

Tax

Net

£

£

£

Fair value reserve

399,399

(91,303

)

308,096

8.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

43,224

AMORTISATION

At 1 June 2024

and 31 May 2025

43,224

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

-