REGISTERED NUMBER: 04032009 (England and Wales)

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 August 2025

for

H S Components Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

8

Balance Sheet

9

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

12

DIRECTORS:

P R Starling

DA Starling

SECRETARY:

DA Starling

REGISTERED OFFICE:

Unit 3 Shawcross House

Horace Waller VC Parade

Shawcross Business Park

Dewsbury

West Yorkshire

WF12 7RF

REGISTERED NUMBER:

04032009 (England and Wales)

AUDITORS:

Xeinadin Audit Limited, Statutory Auditor

Chartered Accountants

Sidings House, Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

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

REVIEW OF BUSINESS

The company maintains a customer-focused sales strategy, offering a wide range of high-quality motor vehicle parts and accessories through our network of four branches and online platform.

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors continuously monitor the key risks facing the Company and evaluate the controls in place to manage these risks.

The main risks and uncertainties facing the Company remain local competition, shifts in consumer spending patterns, and dependence on key suppliers. These risks are mitigated through ongoing product range development and regular monitoring of business performance by the Directors.

As with any business offering credit terms to customers, there is a risk that payments may not be received when due. This risk is mitigated through credit checks, vigilant monitoring of credit limits, and the implementation of a robust credit control policy. Additionally, the company maintains cash reserves should they ever be required.

KEY PERFORMANCE INDICATORS

The Directors employ a variety of financial and non-financial performance metrics to monitor and manage the business.

The key financial measurements of our success are turnover, gross profit, net profit % before tax and cash generation.

Turnover - £16.6m (2024 - £13.6m)

Gross profit - £6.7m (2024 - £5.3m)

Net profit % before tax - 9.5% (2024 - 10.1%)

Cash generation - £0.2m (2024 - £0.5m)

Growth in turnover and gross profit is thanks to the investment and opening of the branch in Bradford. The reduction in net profit % reflects increased operating costs as the new branch scaled up. Cash generation was lower due to investment in the business to support growth including a warehouse extension at the head office.

The non-financial measures of the business focus upon include; staff retention, team well being and how we positively impact the local and wider community via fund raising for charitable organisations.

DEVELOPMENT AND PERFORMANCE

Turnover has increased by 22% from £13.6m to £16.6m. Despite continued pressure on operating costs, profit after tax has increased by 9% to £1.2m (2024 - £1.0m).

FINANCIAL POSITION AT THE REPORTING DATE

The balance sheet shows that the net assets have increased from £3.8m to £4.7m, driven by retained earnings (see Statement of Changes in Equity).

FUTURE DEVELOPMENTS

The Directors look forward to the next financial year, during which the Company will focus on consolidating and growing each of its branches. We have recently invested in a warehouse extension, increasing our capacity to serve the local area while also strengthening our online retail offering to support continued revenue growth.

Investment will remain central to the Company’s strategy, from developing and supporting our employees to enhancing the systems used across every part of the business.

OTHER INFORMATION AND EXPLANATIONS

The business will continue to engage with new vehicle technologies and in turn pass these learnings and technical insights on to the local Garage network that we serve.

ON BEHALF OF THE BOARD:

P R Starling - Director

22 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 suppliers of wholesale and retail motor parts.

DIVIDENDS

Dividends declared are disclosed on the statement of changes in equity.

DIRECTORS

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

P R Starling

DA Starling

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

AUDITORS

The auditors, Xeinadin Audit Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P R Starling - Director

22 May 2026

Opinion

We have audited the financial statements of H S Components Limited (the 'company') for the year ended 31 August 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, 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 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:

Audit procedures performed by the engagement team include:

- Enquiring of and obtaining written representation from management in relation to known or suspected instances of

non-compliance with laws and regulations and fraud;

- Enquiring of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;

- Evaluation of management's controls designed to prevent and detect irregularities;

- Identifying and, where relevant, testing journal entries posted by senior management or with unusual combinations;

- Assessing and evaluating the business rationale of significant transactions outside the normal course of business;

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

regulations;

- Review of correspondence with regulators in so far as they are related to the financial statements;

- Incorporating elements of unpredictability into the nature, timing and/or extent of audit procedures performed.

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.

Andrew Cribb FCA (Senior Statutory Auditor)

For and on behalf of Xeinadin Audit Limited, Statutory Auditor

Chartered Accountants

Sidings House, Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

28 May 2026

TURNOVER

3

16,557,292

13,616,426

Cost of sales

9,831,562

8,310,326

GROSS PROFIT

6,725,730

5,306,100

Distribution costs

213,927

160,956

Administrative expenses

4,954,546

3,781,688

5,168,473

3,942,644

1,557,257

1,363,456

Other operating income

2,754

2,754

OPERATING PROFIT

5

1,560,011

1,366,210

Interest receivable and similar income

7

12,242

15,559

1,572,253

1,381,769

Interest payable and similar expenses

8

(195

)

500

PROFIT BEFORE TAXATION

1,572,448

1,381,269

Tax on profit

9

398,434

307,167

PROFIT FOR THE FINANCIAL YEAR

1,174,014

1,074,102

Retained earnings at beginning of year

3,794,015

2,904,913

Dividends

10

(241,642

)

(185,000

)

RETAINED EARNINGS AT END OF YEAR

4,726,387

3,794,015

FIXED ASSETS

Tangible assets

11

1,152,950

922,835

CURRENT ASSETS

Stocks

12

2,529,355

2,485,253

Debtors

13

2,265,751

1,645,248

Cash at bank and in hand

2,063,801

1,838,128

6,858,907

5,968,629

CREDITORS

Amounts falling due within one year

14

3,084,460

2,862,055

NET CURRENT ASSETS

3,774,447

3,106,574

TOTAL ASSETS LESS CURRENT LIABILITIES

4,927,397

4,029,409

CREDITORS

Amounts falling due after more than one year

15

(4,361

)

(16,406

)

PROVISIONS FOR LIABILITIES

17

(196,549

)

(218,888

)

NET ASSETS

4,726,487

3,794,115

CAPITAL AND RESERVES

Called up share capital

18

100

100

Retained earnings

19

4,726,387

3,794,015

SHAREHOLDERS' FUNDS

4,726,487

3,794,115

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

P R Starling - Director

Cash flows from operating activities

Cash generated from operations

1

1,549,268

1,194,188

Interest paid

195

(500

)

Tax paid

(578,340

)

(166,482

)

Net cash from operating activities

971,123

1,027,206

Cash flows from investing activities

Purchase of tangible fixed assets

(472,231

)

(344,981

)

Sale of tangible fixed assets

22,989

15,452

Interest received

12,242

15,559

Net cash from investing activities

(437,000

)

(313,970

)

Cash flows from financing activities

Capital repayments in year

(14,520

)

(11,980

)

Amount introduced by directors

24,251

74,931

Amount withdrawn by directors

(79,064

)

(60,144

)

Equity dividends paid

(241,642

)

(185,000

)

Net cash from financing activities

(310,975

)

(182,193

)

Increase in cash and cash equivalents

223,148

531,043

Cash and cash equivalents at beginning of year

2

1,838,128

1,309,839

Cash and cash equivalents at end of year

2

2,063,801

1,838,128

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

2025

2024

£

£

Profit before taxation

1,572,448

1,381,269

Depreciation charges

223,427

177,540

Profit on disposal of fixed assets

(4,072

)

(2,826

)

Government grants

(2,754

)

(2,754

)

Finance costs

(195

)

500

Finance income

(12,242

)

(15,559

)

1,776,612

1,538,170

Increase in stocks

(44,102

)

(821,230

)

Increase in trade and other debtors

(565,690

)

(384,414

)

Increase in trade and other creditors

382,448

861,662

Cash generated from operations

1,549,268

1,194,188

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 August 2025

31.8.25

1.9.24

£

£

Cash and cash equivalents

2,063,801

1,838,128

Year ended 31 August 2024

31.8.24

1.9.23

£

£

Cash and cash equivalents

1,838,128

1,309,839

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.24

Cash flow

At 31.8.25

£

£

£

Net cash

Cash at bank and in hand

1,838,128

225,673

2,063,801

1,838,128

225,673

2,063,801

Debt

Finance leases

(21,488

)

14,520

(6,968

)

(21,488

)

14,520

(6,968

)

Total

1,816,640

240,193

2,056,833

1.	STATUTORY INFORMATION

H S Components 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.

The company's functional and presentational currency is GBP, values are rounded to the nearest pound.

After reviewing the company's forecasts and projections, the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore adopts the going concern basis in preparing its financial statements.

Turnover

Turnover is net of customer returns and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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.

Short leasehold

-

20% on cost

Long leasehold

-

2% on cost

Tenant improvements

-

10% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses.

At each balance sheet date, the directors review the assets to determine whether, or not, there are any indications that tangible fixed assets have suffered impairment losses. If any such indication exists, the recoverable amount of the respective asset is estimated in order to determine the extent of the impairment loss.

At each balance sheet date, the directors review the useful lives and residual values of the company's assets and these are revised as necessary. Any revisions to useful lives and residual values are applied prospectively from the date of change.

Where the recoverable amount of an asset is estimated to be less than the carrying amount in the financial statements, the carrying amount is reduced to its recoverable amount by way of an impairment loss which is charged to profit or loss immediately.

Impairment losses are reversed when the conditions giving rise to the previously recognised impairment loss cease to exist. In the situation that an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined, net of depreciation charges, had the asset not been subject to impairment in prior years. A reversal of a previously recognised impairment loss is recognised as income immediately.

Government grants

Government grants are recognised on the accrual model.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis.

At each balance sheet date, the directors undertake a review of its stock for impairment. Where any write-downs of stock become necessary to reduce the value from cost to estimated selling price less costs to complete and sell, such write-downs are recognised as an expense in profit or loss in the period in which the write-down or loss occurs. Where such write-downs subsequently reverse, the amount of any reversal is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Impairment of financial assets

At each balance sheet date, the directors assess financial assets for indicators of impairment. Financial assets are considered to be impaired if there is objective evidence that the estimated future cash flows associated with the financial asset has been adversely affected by one, or more, events or conditions. In respect of financial assets which are carried at amortised cost, the amount of the impairment loss is the difference between the asset's carrying amount in the financial statements and the present value of the estimated future cash flows expected to be received by the company.

If, in a subsequent accounting period, the amount of the impairment loss decreases and the decrease can be related objectively to an event which takes place after the impairment was recognised, the previously recognised impairment loss is reversed through profit or loss to the extent that the carrying amount of the asset at the date the impairment is reversed does not exceed what the amortised cost would have been had no impairment loss been recognised in prior periods. In respect of financial assets carried at cost, the amount of the impairment loss is the difference between the asset's carrying amount in the financial statements and the present value of the estimated future cash flows discounted at the current market rate of return for a similar financial asset. The directors do not consider that any impairment losses recognised in respect of such financial assets will reverse.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. The entity's taxable profit differs from the profit reported in the income statement for the year because of items of income or expense which are taxable or deductible in different periods together with items which are beyond the scope of tax and hence are never taxable or deductible.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

Trade and other debtors

Trade and other debtors are initially recognised at the transaction price and subsequently measured using the amortised cost method which uses the effective interest method. At each balance sheet date, the directors assess trade and other debtors for evidence of indicators of impairment and where the directors conclude that amounts in respect of trade and other debtors are not recoverable, a specific bad debt provision is recognised. Trade debtors are not interest-bearing. Where the effects of discounting trade and other debtors is judged to be immaterial, such debtors are stated at cost less impairment losses in respect of bad debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, on-demand deposits with banks and other short-term highly liquid investments.

Trade and other creditors

Trade and other creditors are initially recognised in the financial statements at transaction price. Trade and other creditors are then subsequently measured at amortised cost using the effective interest method unless the effects of discounting would be considered immaterial. If the effects of discounting are judged to be immaterial, trade and other creditors are stated at cost. Trade creditors are not interest-bearing.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Motor factors

16,557,292

13,616,426

16,557,292

13,616,426

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

16,510,274

13,496,399

Europe

4,086

2,362

Outside of Europe

42,932

117,665

16,557,292

13,616,426

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,540,595

1,993,446

Social security costs

253,467

176,207

Other pension costs

253,994

209,863

3,048,056

2,379,516

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

2025

2024

Head office

23

22

Dewsbury

25

24

Leeds

22

19

Castleford

11

10

Bradford

12

-

93

75

2025

2024

£

£

Directors' remuneration

25,064

25,064

Directors' pension contributions to money purchase schemes

196,800

164,000

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

Money purchase schemes

2

2

In addition to the directors earnings mentioned above there was also health insurance paid for the directors totalling £4,020 (2024 - £3,416)

5.	OPERATING PROFIT

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

2025

2024

£

£

Other operating leases

229,510

160,346

Depreciation - owned assets

213,263

166,184

Depreciation - assets on hire purchase contracts

9,936

11,356

Profit on disposal of fixed assets

(4,072

)

(2,826

)

Foreign exchange differences

2,445

(986

)

6.	AUDITORS' REMUNERATION

Fees payable to the company's auditors for the audit of the company's financial statements was £13,850 (2024 - £13,000).

The auditors provide no other services to the company.

7.

INTEREST RECEIVABLE AND SIMILAR INCOME

2025

2024

£

£

Bank account interest

2,295

3,351

Other interest

9,947

12,208

12,242

15,559

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

HP interest

(195

)

500

9.

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

420,772

307,341

Deferred tax

(22,338

)

(174

)

Tax on profit

398,434

307,167