REGISTERED NUMBER: 01413728 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2023 TO 31 MAY 2025

FOR

P & Q INTERNATIONAL PLC

Page

Company Information

1

Strategic Report

2

Report of the Director

5

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

16

DIRECTOR:

D Gardiner

SECRETARY:

D Gardiner

REGISTERED OFFICE:

Milton Hall

Ely Road

Milton

Cambridgeshire

CB24 6WZ

REGISTERED NUMBER:

01413728 (England and Wales)

AUDITORS:

Staffords

Chartered Accountants

& Statutory Auditors

Unit 1, Cambridge House

Camboro Business Park

Oakington Road, Girton

CAMBRIDGE

Cambridgeshire

CB3 0QH

The director presents his strategic report for the period 1 December 2023 to 31 May 2025.

REVIEW OF BUSINESS

As for the year to November 2023, the 18 months to May 2025 continued to be a busy development period, though with less new business than usual due to companies still being reluctant to commit to large projects during this uncertain time, and also due to many people being laid off or working from home. Our dealer in Ghana is actively promoting our solutions there, are regularly quoting (with our assistance) for large projects, especially those with complex and non-standard needs (which is one of the strong point of our software).

In terms of our own way of operating, this has been little affected, since we have for the past 39 years had development and support staff working remotely and have been supporting our clients remotely, both of which have become even easier over the past 24 years than before that. Also, during the past 14 years, the prevalence of the equipment we support having no moving parts has seen a steady drop in the number of client visits required to repair equipment, and client visits are now rare other than for preventative maintenance of access control systems and (of course) for installation of new equipment. Client visits nowadays are primarily for discussions about new projects (especially new and potential clients) and for training. However, companies are still reluctant to spend money or to make major investments.

Work on our building renovation project (intended to give us an independent revenue stream) has unfortunately still been "mothballed" during much of the last 18 months of the period but is slowly progressing as time permits, software development still being our main focus.

PRINCIPAL RISKS AND UNCERTAINTIES

Economic outlook:

We have found that the change in working practices, with more flexibility in many business to work from home some of the time, has meant that there is currently less interest in Time & Attendance products than hitherto, even though our products have modules specifically intended to handle different ways of "clocking on", including keeping track of time worked both on premises, at remote premises and those belonging to other companies (e.g. agency work, cleaning, repairs and maintenance, etc) and working from home. Monitoring time spent working while at home is generally considered intrusive and monitoring is instead more results based. Our traditional primary market of large companies with large numbers of hourly-paid production staff was decimated during the period between 2001 and 2018, with more than 80% of British industry either emigrating, bought out or folding, and while there is talk of rebuilding our manufacturing base, still there is little that has happened in practice so far.

Given the flexibility for multiple different forms of "data collection and analysis" of which our products are capable (Time and Attendance being just one form of data collection and analysis), we are therefore concentrating on developing other uses of our software and developing links with other companies for and promoting these, since while development is very much our strong point, marketing is our weak area.

Our TimeBureau clients with cleaning and staff supply businesses are slowly recovering but this market is still not seeing strong growth. A significant part of our income comes from ongoing maintenance and support, which companies usually always require. However, companies tightening their belt sometimes decide to drop support & maintenance for such reliable software as ours. The risk is also that even large companies (who have historically always made up the bulk of our client base) can fail during sharp or prolonged downturns, or can decide to shift their manufacturing base overseas (usually outside Europe), or be taken over by another company (typically from USA), all 3 of which occurred repeatedly between 2001 and 2018. To mitigate these risks, the company continuously invests in technical Research and Development in order to expand into new markets and also provides affordable bureau services to smaller companies to reduce reliance on large companies.

Loss of Key Management or the ability to attract and retain key employees:

The loss of key individuals or the inability to recruit and retain individuals with the relevant talent and experience would disrupt the operation of the business and adversely impact the company's ability to deliver its strategies. The company has arrangements in place with key individuals who provide services to the company on a consultancy basis, with specific incentives designed to ensure they are retained by the company and participate in its future success.

The Company's operations depend on IT systems and operational infrastructure in order to trade efficiently:

A failure in these systems or a denial of service could have a significant impact on the Group's operations and reputation, and potentially result in the loss of sensitive information. A number of controls to maintain the integrity and efficiency of the Company's IT System are in place, including recovery plans which would be implemented in the event of a major failure.

Failure by the Company or associated third parties to act in accordance with ethical and environmental standards:

A failure to act appropriately could result in penalties and reputational damage with a resulting drop in sales and profit. A number of controls to ensure the company complies with ethical and environmental standards are in place.

Over-reliance on key vendors:

The company relies on a number of vendors in key product categories, and IT services. Failure of one of these businesses to deliver products or services would have some impact on business operations. Our software works with hardware from multiple manufacturers, and therefore substitutions could be made at short notice without significantly affecting business operations. Any of our non-core suppliers could also be changed at short notice if necessary with little effect on the company.

Unauthorised use of the company's Intellectual Property and other proprietary rights:

Trademarks and other intellectual property (IP) rights are fundamentally important to the company's reputation, success and competitive position. Where infringements are identified these are addressed through a mixture of criminal and civil legal action and negotiated settlement. The company has arrangements in place whereby the contingent rights to its software vest with a third party, in the event of the demise of the company.

OBJECTIVES AND POLICIES

Company's policy on payment of suppliers:

The company adheres to the payment policy terms that have been agreed with the supplier. Where terms have not been specifically agreed, it is the company policy to settle invoices close to the end of the month following the month of invoicing.

Price risk, credit risk, liquidity risk and cashflow risk:

The business' principal financial instruments comprise bank balances, trade debtors, creditors and a bank loan. The main purpose of these instruments is to finance the business' operations. In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the timing of collection of debts and payments of liabilities. We try to avoid the exchange rate risks associated with selling in other countries by always quoting in £ sterling for our software, and in the currency of the relevant supplier for hardware that we resell as part of our systems.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors.

Creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

GOING CONCERN REVIEW

We are all still facing difficult and uncertain futures. We had already decided to diversify to mitigate risks to our income, and taken on extra loan facilities to facilitate this, and it seems in principle to have been a sensible decision. Most of these loans have now been repaid, and the use of bank overdraft is now steadily being reduced. However, even the domestic property market is now facing far less predictable times. However, the company has faced down severe difficulties on several occasions over the past 40+ years, and we intend to do the same again.

The directors have continued their support for the company.

Accordingly, the directors consider that sufficient finance is available to enable the company to meet its liabilities as they fall due and it is therefore appropriate to prepare the accounts on a going concern basis.

CHANGE IN REPORTING PERIOD

The company is reporting an 18 month period to reflect the final period before the change from a public limited company to a limited company after the year end. This means that the comparative amounts presented in the financial statements are not entirely comparable.

ON BEHALF OF THE BOARD:

Director

29 May 2026

The director presents his report with the financial statements of the company for the period 1 December 2023 to 31 May 2025.

DIVIDENDS

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

DIRECTORS

D Gardiner has held office during the whole of the period from 1 December 2023 to the date of this report.

Other changes in directors holding office are as follows:

Scarab Software Limited 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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, Staffords, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D Gardiner - Director

29 May 2026

Opinion

We have audited the financial statements of P & Q International Plc (the 'company') for the period ended 31 May 2025 which comprise the Income Statement, Other 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 period 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 the provisions available for small entities, in the circumstances set out in note eighteen to the financial statements, 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; or

-	the director was not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page five, 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:

We have obtained an understanding of the legal and regulatory framework applicable to the company, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the Financial Statements.

We have considered the nature of the industry and sector, control environment and business framework, including the design of the company's remuneration policies.

We have enquired of management in regard to their own assessment of the risks of irregularities, including fraud.

We have obtained relevant documentation and representations in order to form an opinion on potential irregularities, including fraud.

We have reviewed the company's documentation of their policies and procedures relating to identifying, evaluating, and complying with laws and regulations, detecting and responding to the risks of fraud, and the internal controls established to mitigate the risks of fraud and non-compliance with laws and regulations.

Audit procedures performed during the audit included transaction testing with a focus on areas of judgement and estimations, and entries determined to be large or relating to unusual transactions. These audit procedures are designed to provide reasonable assurance that the Financial Statements were free from fraud or error. However, detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as those irregularities that result from fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations.

No instances of non compliance with laws and regulations or of fraud were communicated to us during the audit.

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.

Matthew Pettifer FCA (Senior Statutory Auditor)

for and on behalf of Staffords

Chartered Accountants

& Statutory Auditors

Unit 1, Cambridge House

Camboro Business Park

Oakington Road, Girton

CAMBRIDGE

Cambridgeshire

CB3 0QH

29 May 2026

TURNOVER

8,307

37,256

Cost of sales

(6,775

)

(2,647

)

GROSS PROFIT

1,532

34,609

Administrative expenses

(53,995

)

(37,519

)

(52,463

)

(2,910

)

Other operating income

53,050

12,820

OPERATING PROFIT

4

587

9,910

Interest payable and similar expenses

5

(9,382

)

(8,758

)

(LOSS)/PROFIT BEFORE TAXATION

(8,795

)

1,152

Tax on (loss)/profit

6

(19,117

)

(979

)

(LOSS)/PROFIT FOR THE FINANCIAL PERIOD

(27,912

)

173

(LOSS)/PROFIT FOR THE PERIOD

(27,912

)

173

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

(27,912

)

173

FIXED ASSETS

Tangible assets

7

74,593

96,246

CURRENT ASSETS

Stocks

8

9,874

14,106

Debtors

9

1,407

55,514

11,281

69,620

CREDITORS

Amounts falling due within one year

10

67,596

118,677

NET CURRENT LIABILITIES

(56,315

)

(49,057

)

TOTAL ASSETS LESS CURRENT LIABILITIES

18,278

47,189

CREDITORS

Amounts falling due after more than one year

11

5,333

6,332

NET ASSETS

12,945

40,857

CAPITAL AND RESERVES

Called up share capital

14

145,960

145,960

Retained earnings

15

(133,015

)

(105,103

)

SHAREHOLDERS' FUNDS

12,945

40,857

The financial statements were approved by the director and authorised for issue on 29 May 2026 and were signed by:

D Gardiner - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 December 2022

145,960

(105,276

)

40,684

Changes in equity

Total comprehensive income

-

173

173

Balance at 30 November 2023

145,960

(105,103

)

40,857

Changes in equity

Total comprehensive income

-

(27,912

)

(27,912

)

Balance at 31 May 2025

145,960

(133,015

)

12,945

Cash flows from operating activities

Cash generated from operations

1

7,897

(11,146

)

Interest paid

(9,382

)

(8,758

)

Net cash from operating activities

(1,485

)

(19,904

)

Cash flows from investing activities

Purchase of tangible fixed assets

-

(3,655

)

Net cash from investing activities

-

(3,655

)

Cash flows from financing activities

Loan repayments in year

(15,438

)

(6,417

)

Amount introduced by directors

16,919

29,609

Net cash from financing activities

1,481

23,192

Decrease in cash and cash equivalents

(4

)

(367

)

Cash and cash equivalents at beginning of period

2

(14,988

)

(14,621

)

Cash and cash equivalents at end of period

2

(14,992

)

(14,988

)

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1/12/23

to

Year ended

31/5/25

30/11/23

£

£

(Loss)/profit before taxation

(8,795

)

1,152

Depreciation charges

21,653

5,428

Finance costs

9,382

8,758

22,240

15,338

Decrease in stocks

4,232

1,567

Decrease/(increase) in trade and other debtors

34,990

(13,307

)

Decrease in trade and other creditors

(53,565

)

(14,744

)

Cash generated from operations

7,897

(11,146

)

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:

Period ended 31 May 2025

31/5/25

1/12/23

£

£

Bank overdrafts

(14,992

)

(14,988

)

Year ended 30 November 2023

30/11/23

1/12/22

£

£

Bank overdrafts

(14,988

)

(14,621

)

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/12/23

Cash flow

At 31/5/25

£

£

£

Net cash

Bank overdrafts

(14,988

)

(4

)

(14,992

)

(14,988

)

(4

)

(14,992

)

Debt

Debts falling due within 1 year

(19,068

)

14,439

(4,629

)

Debts falling due after 1 year

(6,332

)

999

(5,333

)

(25,400

)

15,438

(9,962

)

Total

(40,388

)

15,434

(24,954

)

1.	STATUTORY INFORMATION

P & Q International Plc is a private company , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The director has assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The director has not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date and therefore the financial statements have been prepared using the going concern basis of accounting.

Turnover

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

Tangible fixed assets

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

Property Improvements

-

in accordance with the property

Plant and machinery

-

20% on cost

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost is measured on a first in first out basis.

Taxation

Taxation for the period 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.

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 period end and that are expected to apply to the reversal of the timing difference.

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

Research and development

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

Foreign currencies

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.

4.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1/12/23

to

Year ended

31/5/25

30/11/23

£

£

Depreciation - owned assets

21,653

5,430

Auditors' remuneration

3,150

3,000

Foreign exchange differences

617

-

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1/12/23

to

Year ended

31/5/25

30/11/23

£

£

Bank interest

4,037

2,063

Bank loan interest

2,820

6,365

Bank charges

2,525

330

9,382

8,758

6.

TAXATION

Analysis of the tax charge

The tax charge on the loss for the period was as follows:

Period

1/12/23

to

Year ended

31/5/25

30/11/23

£

£

Deferred tax

19,117

979

Tax on (loss)/profit

19,117

979

Reconciliation of total tax charge included in profit and loss

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

Period

1/12/23

to

Year ended

31/5/25

30/11/23

£

£

(Loss)/profit before tax

(8,795

)

1,152

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 19% (2023 - 19%)

(1,671

)

219

Effects of:

Depreciation in excess of capital allowances

4,068

760

Utilisation of tax losses

(2,397

)

-

Adjustments to tax charge in respect of previous periods

19,117

-

Total tax charge

19,117

979

7.	TANGIBLE FIXED ASSETS

Fixtures

Property

Plant and

and

Improvements

machinery

fittings

£

£

£

COST

At 1 December 2023

and 31 May 2025

107,363

14,576

2,824

DEPRECIATION

At 1 December 2023

23,286

2,769

2,824

Charge for period

17,969

3,542

-

At 31 May 2025

41,255

6,311

2,824

NET BOOK VALUE

At 31 May 2025

66,108

8,265

-

At 30 November 2023

84,077

11,807

-

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 December 2023

and 31 May 2025

3,804

11,171

139,738

DEPRECIATION

At 1 December 2023

3,613

11,000

43,492

Charge for period

78

64

21,653

At 31 May 2025

3,691

11,064

65,145

NET BOOK VALUE

At 31 May 2025

113

107

74,593

At 30 November 2023

191

171

96,246

8.

STOCKS

2025

2023

£

£

Stocks

9,874

14,106

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade debtors

1,131

24,486

VAT

276

1,911

Deferred tax asset

-

19,117

Prepayments and accrued income

-

10,000

1,407

55,514

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Bank loans and overdrafts (see note 12)

19,621

34,056

Trade creditors

233

1,454

Other creditors

1,079

1,879

Directors' loan accounts

40,302

73,383

Accruals and deferred income

6,361

7,905

67,596

118,677

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2023

£

£

Bank loans (see note 12)

5,333

6,332