The directors present the strategic report for the year ended 31 December 2025.
Operational and trading activities continued to be shaped by challenging macro‑economic conditions across the UK construction market. Although inflationary pressures eased during the year and interest rates began to trend downward, the legacy impact of elevated borrowing costs and constrained household finances continued to suppress activity, particularly within the housing sector. Newbuild demand remained weak, with developers slowing build‑out rates and prioritising existing sites over new starts. This subdued environment extended into the repair, maintenance and improvement market, where homeowners deferred non‑essential expenditure. As a result, both professional trade and DIY activity softened across the year, limiting volume growth opportunities and intensifying competition across core product categories.
The Plasmor Group’s unique access to high quality aggregates from industry leading processes positions the business strongly to meet customer demand for premium lightweight aggregate blocks produced using in‑house raw materials. Swift decision‑making and decisive action, reflecting the Group’s operational flexibility, delivered significant benefits as operations were appropriately flexed to address challenging market cost pressures. Plasmor remains well resourced, maintaining essential investment in plant, machinery, and environmental and operational infrastructure to support the consistent delivery of high‑quality, sustainable products and first‑class service. Continued development of value‑added paving products supports growth through differentiation and quality, underpinned by state‑of‑the‑art manufacturing assets.
These do not alter much from year to year. They are:
1) The impact of general economic trends upon the construction industry in general and the housing market in particular.
2) The direct and indirect impact of climate change (reflected in energy and transport costs, building regulations and changes in building methods).
3) The effect of consolidation within the supply chain, including suppliers, customers and competitors.
4) The burden of regulation and red tape, which is felt badly by businesses of our size.
We manage these risks by having a well-diversified base of business partners (both suppliers and customers), by having a proportion of our material supply in our ownership, by active product development and certification programmes, and by having a management structure, including active "hands-on" directors, capable of a rapid response to changing conditions. All this is backed up by a disciplined approach to the market and by high standards of product quality and customer service.
In order to maintain the company's position as a market leader in quality concrete products, a continuing research and development programme is carried out. The accounting policy is described in note 1 to the financial statements.
In managing our business, we have a number of key indicators that we use, in addition to the management accounts, to measure and manage the performance of the business. These include output, energy consumption, labour cost and individual product profitability. These measures are monitored on a weekly and monthly basis and communicated to the relevant managers in the business to take remedial action where required.
Taking our Corporate and Social Responsibility very seriously we also monitor performance in other key areas including Sustainability, Environmental Impact, H&S, Staff Wellbeing and Equality.
This is not a complex business. The KPI’s presented here are part of a much wider reporting framework that enables the directors to understand the development, performance, and position of the business.
Profit margin: 3.93% (2024 - 5.42%) is the ratio of PBT over turnover.
Liquidity ratio: 3.31 (2024 - 3.13) is the ratio Current Assets less Stocks over Current Liabilities.
Net cash flow from operating activities: £5m (2024 - £14m).
The company does not actively use financial instruments as part of its financial risk management. It is exposed to the usual credit and cash flow risk associated with selling on credit and manages this through credit control procedures. The nature of its financial instruments means that they are not subject to a price risk or liquidity risk.
Whilst 2025 can, after years of volatility, be considered a period of stabilisation, challenges will remain throughout 2026. Elevated cost bases, combined with ongoing political and economic uncertainty, are likely to weigh on housebuilding as well as the broader construction and manufacturing sectors. Opportunities for volume growth will be limited. Consequentially as businesses and individuals across the economic spectrum adapt, competition for reduced volumes will exert pressure on prices. Plasmor’s strong cash flows, continued focus on cost control coupled with the continuing financial flexibility of our manufacturing operations make us well positioned to respond to the challenges and take advantage of opportunities as and when they arise.
Directors' wider considerations - s172
Decision Making
All decisions taken by the Board are done so in the context of the Group’s long-term prospects. When performance allows staff participate in a generous profit share scheme which encourages focus on productivity and value for money.
Employee Interests
The Group's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests. Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance. The company is committed to staff development and all staff receive continual appropriate training.
Business Relationships
The Plasmor Group enjoys excellent relationships with customers and suppliers alike. Customer service and product quality are second to none we work with our customers to ensure fair pricing and mutual corporate responsibility.
In terms of suppliers, we necessarily appreciate the value of a good supply chain. Whilst always seeking value for money we ensure suppliers are paid correctly and to terms. Again, we encourage suppliers to respect our values through BES 6001 accreditation.
Operational Impacts
Mindful of environmental responsibilities the Group operates with ISO 14001 accreditation. Energy consumption and carbon emissions are monitored with a view to satisfying our SECR responsibilities, maximising efficiency and minimising our carbon footprint. The group is committed to green / hybrid vehicles.
Standards and Reputation
Plasmor’s reputation within the industry is exemplary. In terms of quality, products are manufactured within the framework of BSES 13369 and ISO 9001. The culture of the business stems from its family ownership and reflect traditional values of honesty, integrity and fairness. The board ensure these values permeate top down throughout the business.
Equity and Fairness
The business recognises its responsibility to all stakeholders and as mentioned previously the long-term interests of those stakeholders are considered throughout decision making processes. Naturally, there is a balance, whilst shareholders reasonably expect a return on their investment in terms of dividends any distributions are made in the context of results and capital investment requirements. The group benefits greatly from shareholder involvement at the highest level within the management team.
Disabled Persons
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 December 2025.
The results for the year are set out on page 10.
Ordinary interim dividends of £4,200,000 (2024 - £9,200,000) were paid during the year. The directors do not recommend payment of a final dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Sumer Auditco limited were appointed as auditor to the following BHP LLP becoming part of the Sumer Group on 31 of December 2025, which required a change in audit firm to comply with applicable regulatory requirements.
In accordance with section 487(2) of the Companies Act 2006, Sumer Auditco Limited are deemed to be reappointed annually.
We have audited the financial statements of Plasmor (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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).
Basis for 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 group's and parent 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
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Other matters which we are required to address
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
Reviewing minutes of meetings of those charged with governance;
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection of records and correspondence;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates and policies for indicators of potential bias.
Performing audit work over the timing and recognition of revenue and in particular whether it has been recorded in the correct accounting period.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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 an auditor's report 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.
Total comprehensive income for the period is all attributable to the owners of the parent compnay.
The statement of comprehensive income has been prepared on the basis that all operations are continuing operations.
As permitted by s408 Company has not presented its own profit and loss account and related notes.The company's profit for the was £4,200,000 (2024 - £9,200,000).
Plasmor (Holdings) Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Plasmor Ltd, Womersley Road, Knottingley, WF11 0DL.
The group consists of Plasmor (Holdings) Limited and all of its subsidiaries.
The accounts report on the 12 month period to 31 December 2025. The comarative figures relate to a 16 month period to 31 December 2024. Therefore the comparative figures are not wholly comparable to the new period.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.
The consolidated group financial statements consist of the financial statements of the parent company Plasmor (Holdings) Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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 dispatch 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.
Turnover derived from rental income is recognised on an accruals basis and turnover from the sale of properties is recognised at the point of transfer of legal title.
Quarries included within freehold property are depreciated based upon the tonnage extracted relative to the anticipated reserves.
Assets under construction at the year end are not depreciated until they are brought into economic use.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
Freehold land is not depreciated.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.
The tax expense represents the sum of the tax currently payable and deferred tax.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
The group operates two defined contribution pension schemes; one for its employees, the other for directors. Pension contributions under the schemes are charged to the profit and loss account as incurred.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
Carbon credits
The company incurs expenditure for carbon credits for future use. When the initial cost is made this is treated as a prepayment as such credits are held for own use only. The company calculates their requirements over a 2-3 year window and then purchase extra credits based on historical evidence of usage and then release them straight line over time to the profit and loss.
Restoration costs
Provisions for restoration costs are made to reflect the costs of the remedial work in relation to the closure of mining sites operated by the group. The amount provided represents the expected costs of restoring the sites in line with the group's legal and constructive obligations based on survey measurements carried out at the balance sheet date. The provision is released as actual costs are incurred to restore the sites. The provisions are calculated by the directors with advice from third party surveyors who are considered best placed to estimate the restoration costs.
Mining assets
Mining assets comprise land purchased by the group for the purpose of mineral extraction activities. The cost comprises the price paid for the land and any other costs incurred in exploring the sites for mining purposes, including estimated obligations arising from mine restoration commitments at the date of acquiring the mines. Mining assets are amortised using the units of production method in line with the cost model based on the estimated reserves and the rate of extraction in the period. Mining assets are reviewed for impairment on an annual basis and an impairment is included in the financial statements where facts or circumstances suggest that the carrying amount of an exploration and evaluation asset may exceed its recoverable amount.
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
The depreciation policy has been set according to management's experience of the useful lives of a typical asset in each category, something which is reviewed annually. It is not considered practical to use a per unit basis to allocate depreciation without undue cost and therefore amounts are charged annually. The depreciation charged during the year was £5,825,234 (2024 - £7,428,921 ) which the directors feel is a fair reflection of the benefits derived from the consumption of the tangible fixed assets in use during the period.
Outstanding trade debtor balances are reviewed on a line by line basis by management to identify possible amounts where a provision is required. Management closely manage the collection of trade debtors and are therefore able to identify balances where there is uncertainty about its recoverability, and determine what provision is required (if any).
The group converts raw materials, including those from their own quarries, to finished goods as part of its production operations. Stock values include any costs such as labour and overheads attributable to generating finished goods, as management believe this is the most suitable costing method to take into account the matching concept of accounting.
At each reporting date an assessment is made for provisions required to properly recognise wastage, damaged goods and over absorbed overheads. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss and provided for in the balance sheet. Reversals of impairment losses are also recognised in profit or loss where these arise.
An obligation exist to restore land leased for the purposes of mineral extraction to its original condition before mining operations commenced. Management have employed external planning and enviromental consultansts to calculate the cost of the provision required in respect of restoring the relevant land. At each reporting date managment assess that the provision is a reliable estimate of the future costs to be incurred. During the period, the provision related to certain leased land was released as the land was returned to the lessor and the Group's restoration obligations in respect of that site ceased.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
Group
Upon transition to FRS 102, the group elected to take exemption 35.10 (d) of FRS 102, which permits the group to revalue freehold land and buildings at fair value and for that fair value to be used as a deemed cost for the item going forward.
Included in the cost of freehold land and buildings is land with a deemed cost of £7,950,610 (2024- £7,971,684 ) which is not depreciated.
The historic cost of land at the year end is £3,541,943 (2024 - £3,541,943) which is not depreciated.
Also included within freehold land and buildings is mining assets with a carrying value of £3,494,857 (2024 -£3,440,808 ).
During the year the group sold its remaining Investment property, which had a historic cost of £375,000.
There was no significant difference between the value shown for stocks and their replacement cost at the balance sheet date.
The bank overdraft is secured by a multilateral guarantee across all group companies as disclosed within note 21.
Bank loans and overdrafts are secured as detalied in note 15
The restoration provision related to a future obligation Plasmor Limited had on its mining and mineral extracting activities to restate the land in use to a condition in line with North Yorkshire County Council planning conditions.During the year the company satised all the obligations and hence released the provision.
Deferred tax assets and liabilities are offset where the group or company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:
The group operates two defined contribution pension schemes for all qualifying employees; one for its employees, the other for directors. The assets of the schemes are held separately from those of the group in independently administered funds.
Contributions totalling £129,915 (2024 - £133,362 ) were payable to the fund at the year end and are included in creditors.
There is a multilateral guarantee given by the company, its fellow subsidiary trading companies and its parent company under which each party guarantees the bank overdraft facilities of up to £1,000,000 of the other parties. The maximum contingent liability under this guarantee as at 31 December 2025 is £nil (2024 - £22).
Operating lease payments represent rentals payable by the group for certain properties and assets. Leases are negotiated for an average term of 3 years and rentals are fixed.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Amounts contracted for but not provided in the financial statements:
The company has taken advantage of the exemption granted by paragraph 33.1A of FRS 102 not to disclose related party transactions within wholly owned Plasmor (Holdings) Limited group companies.
Dividends of £1,865,417 (2024 -£3,947,188) were paid in the year in respect of shares held by the company's directors.
Details of the company's subsidiaries at 31 December 2025 are as follows:
The registered office of all group companies is Plasmor Limited, Wormersley Road, Knottingley, WF11 0DN.
There was no debt in the group in the current or previous year.