REGISTERED NUMBER: 04586797 (England and Wales)

Peter Ramsey & Sons Limited

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended 30 September 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTORS:

P R H Ramsey

M J S Ramsey

P E Ramsey

J W R Ramsey

REGISTERED OFFICE:

Unit 6

Whitehead Business Park

Holland Street

Bradford

West Yorkshire

BD4 8BH

REGISTERED NUMBER:

04586797 (England and Wales)

AUDITORS:

Walkers Accountants Limited

Statutory Auditor and Chartered Accountants

Aireside House

Aireside Business Centre

Royd Ings Avenue

Keighley

West Yorkshire

BD21 4BZ

The directors present their strategic report for the year ended 30 September 2025.

REVIEW OF BUSINESS

The principal activity of the company during the year was that of a property and intermediate holding company, trading from its registered office, Units 6 Whitehead Business Park, Bradford, West Yorkshire, BD4 8BH.

The directors aim to present a balanced and comprehensive view of the development and performance of the business during the year and its position at the year end. The review is consistent with the size and non-complex nature of the business and is written in the context of the risks and uncertainties faced.

The directors consider the company’s performance during the year to be satisfactory. The company has continued to generate stable rental income from its property portfolio, supported by a strong level of occupancy.

The company continues to maintain a strong balance sheet, with net assets increasing slightly during the year. The directors are satisfied with the financial position of the company and its ability to meet its obligations as they fall due.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risk facing the company is the continued good performance and full letting of the properties occupied by third parties.

Financial risks

The business is comfortable that it is generating sufficient margin/cash-flow to cover all eventualities. The company has very limited exposure to financial risks that include the effect of changes in credit, liquidity and interest rate risk.

Credit risk

The company has a limited number of customers and therefore exposure to credit risk is restricted. The directors monitor receivable balances on an ongoing basis.

Liquidity risk

Liquidity risk is managed through the use of cash flow forecasts to ensure that sufficient funds are available to meet liabilities as they fall due.

The directors believe that the company has sufficient funds available to support its activities in the future.

FUTURE DEVELOPMENTS

The directors intend to continue to maximise occupancy levels across the property portfolio and to review opportunities to enhance rental income and asset values where appropriate. The company will also continue to monitor market conditions and manage costs to maintain profitability.

KEY FINANCIAL PERFORMANCE INDICATORS

The key financial performance indicators are those that communicate the financial performance and strength of the company as a whole. These are turnover and net asset value.

- Turnover decreased 2.9% from £1,484,268 to £1,529,123

- Net assets increased from £9,103,678 to £,9,107,838

These indicators reflect the continued stability of the company’s income streams and the strength of its underlying asset base.

ON BEHALF OF THE BOARD:

J W R Ramsey - Director

9 June 2026

The directors present their report with the financial statements of the company for the year ended 30 September 2025.

DIVIDENDS

Interim dividends per the respective classes of ordinary share capital of £1 each were paid as follows during the year:

Paid 11th November 2024

- A dividend of £0.27739 per share was paid on ordinary shares of £1 each class "D"

Paid 2nd January 2025

- A dividend of £0.39246 per share was paid on ordinary shares of £1 each class "B"

- A dividend of £0.16761 per share was paid on ordinary shares of £1 each class "C"

- A dividend of £0.50434 per share was paid on ordinary shares of £1 each class "D"

Paid 7th April 2025

- A dividend of £0.43247 per share was paid on ordinary shares of £1 each class "A"

- A dividend of £0.41699 per share was paid on ordinary shares of £1 each class "B"

- A dividend of £0.19214 per share was paid on ordinary shares of £1 each class "C"

- A dividend of £0.50434 per share was paid on ordinary shares of £1 each class "D"

Paid 30th June 2025

- A dividend of £0.41699 per share was paid on ordinary shares of £1 each class "B"

- A dividend of £0.17987 per share was paid on ordinary shares of £1 each class "C"

- A dividend of £0.50434 per share was paid on ordinary shares of £1 each class "D"

Paid 20th September 2025

- A dividend of £0.36793 per share was paid on ordinary shares of £1 each class "B"

- A dividend of £0.17987 per share was paid on ordinary shares of £1 each class "C"

- A dividend of £2.01738 per share was paid on ordinary shares of £1 each class "D"

The total distribution of dividends for this company for the year ended 30th September 2025 was £1,813,000.

DIRECTORS

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

P R H Ramsey

M J S Ramsey

P E Ramsey

J W R Ramsey

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances, trade debtors and trade creditors.

DISCLOSURE IN THE STRATEGIC REPORT

The Business Review, Key Performance Indicators, Future Developments and Principal Risks and Uncertainties statements are disclosed within the Strategic Report.

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, Walkers Accountants Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J W R Ramsey - Director

9 June 2026

Opinion

We have audited the financial statements of Peter Ramsey & Sons Limited (the 'company') for the year ended 30 September 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 September 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 five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Based on our understanding of the company and its industry, we considered that non-compliance with the following laws and regulations might have a material effect on the financial statements: employment regulation, health and safety regulation, anti-money laundering regulation.

To help us identify instances of non-compliance with these laws and regulations, and in identifying and assessing the risks of material misstatement in respect to non-compliance, our procedures included, but were not limited to:

- Inquiring of management and, where appropriate, those charged with governance, as to whether the company is in compliance with laws and regulations, and discussing their policies and procedures regarding compliance with laws and regulations;

- Inspecting correspondence, if any, with relevant licensing or regulatory authorities;

- Communicating identified laws and regulations to the engagement team and remaining alert to any indications of non-compliance throughout our audit; and

- Considering the risk of acts by the company which were contrary to applicable laws and regulations, including fraud.

We also considered those laws and regulations that have a direct effect on the preparation of the financial statements, such as tax legislation and the Companies Act 2006.

In addition, we evaluated the directors' and management incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls, and determined that the principal risks related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates and significant one-off or unusual transactions.

Our audit procedures in relation to fraud included but were not limited to:

- Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;

- Gaining an understanding of the internal controls established to mitigate risks related to fraud;

- Discussing amongst the engagement team the risks of fraud; and

- Addressing the risks of fraud through management override of controls by performing journal entry testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal controls.

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.

Michael William Procter (Senior Statutory Auditor)

for and on behalf of Walkers Accountants Limited

Statutory Auditor and Chartered Accountants

Aireside House

Aireside Business Centre

Royd Ings Avenue

Keighley

West Yorkshire

BD21 4BZ

9 June 2026

TURNOVER

3

1,484,268

1,529,123

Administrative expenses

(595,552

)

(641,477

)

OPERATING PROFIT

5

888,716

887,646

Income from shares in group undertakings

1,200,000

600,000

Interest receivable and similar income

2,663

10,824

2,091,379

1,498,470

Interest payable and similar expenses

6

-

(6,698

)

PROFIT BEFORE TAXATION

2,091,379

1,491,772

Tax on profit

7

(274,219

)

(265,807

)

PROFIT FOR THE FINANCIAL YEAR

1,817,160

1,225,965

PROFIT FOR THE YEAR

1,817,160

1,225,965

OTHER COMPREHENSIVE INCOME

Purchase of own shares

-

(110,677

)

Reduction of share capital

-

32,565

Income tax relating to components of other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

(78,112

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,817,160

1,147,853

FIXED ASSETS

Tangible assets

9

8,373,504

8,547,223

Investments

10

775,891

775,891

9,149,395

9,323,114

CURRENT ASSETS

Debtors

11

129,659

15,459

Cash at bank

106,133

57,930

235,792

73,389

CREDITORS

Amounts falling due within one year

12

(227,310

)

(274,157

)

NET CURRENT ASSETS/(LIABILITIES)

8,482

(200,768

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,157,877

9,122,346

CREDITORS

Amounts falling due after more than one year

13

(26,857

)

-

PROVISIONS FOR LIABILITIES

17

(23,182

)

(18,668

)

NET ASSETS

9,107,838

9,103,678

CAPITAL AND RESERVES

Called up share capital

18

687,410

687,410

Capital redemption reserve

19

237,504

237,504

Retained earnings

19

8,182,924

8,178,764

SHAREHOLDERS' FUNDS

9,107,838

9,103,678

The financial statements were approved by the Board of Directors and authorised for issue on 9 June 2026 and were signed on its behalf by:

J W R Ramsey - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 October 2023

719,975

8,205,546

204,939

9,130,460

Changes in equity

Issue of share capital

(32,565

)

-

-

(32,565

)

Dividends

-

(1,142,070

)

-

(1,142,070

)

Total comprehensive income

-

1,115,288

32,565

1,147,853

Balance at 30 September 2024

687,410

8,178,764

237,504

9,103,678

Changes in equity

Dividends

-

(1,813,000

)

-

(1,813,000

)

Total comprehensive income

-

1,817,160

-

1,817,160

Balance at 30 September 2025

687,410

8,182,924

237,504

9,107,838

1.	STATUTORY INFORMATION

Peter Ramsey & Sons 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of Ramsey Timber Group Holdings Limited as at 30 September 2025 and these financial statements may be obtained from Companies House, Cardiff, CD14 3UZ

Significant judgements and estimates

The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the applications of policies and the reported amounts of assets and liabilities, income and expenses.

Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.

Estimation Uncertainty

Information about estimates and assumptions that have the most significant effect on recognition and measurement of assets, liabilities, income and expenses is provided below.

Useful lives of depreciable assets

Management reviews its estimates of the useful lives of depreciable assets at each reporting date, based on the expected utility of assets. Uncertainties in these estimates relate to mechanical and technological obsolescence that may change the utility of certain plant and equipment.

Revenue recognition

Turnover represents net invoiced sales of rents and management charges, excluding value added tax tax and is net of sales returns, trade discount and any rebates. Revenue is recognised when and to the extent that, the company obtains the right to consideration for its performance.

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.

Freehold property

-

2% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

All tangible fixed assets are stated at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

FRS 102 requires that the freehold property is accounted for as an investment property within these accounts but then be reallocated as to property, plant and equipment within the consolidated accounts in accordance with Section 17 of FRS102..

Assets held under finance lease are depreciated in the same manner as owned assets.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as detailed above.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are credited or charged to the income statement.

Impairment of fixed assets

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an 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 the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account as incurred.

Assets that are held by the company under leases which transfer to the company substantially all the risks and rewards of ownership are classified as being held under finance leases. Leases which do not transfer substantially all the risks and rewards of ownership to the company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments.

Going concern

The financial statements have been prepared on the going concern basis which assumes that the group will continue in operation for at least 12 months from the date of approval of these financial statements.

In reaching their conclusion, the directors have considered their current trading information and their cashflows that cover a period of no less than 12 months from the date of approval. The company has maintained significant liquid balances as demonstrated by the balance sheet position at the year end and with to continual operationally for a period of no less than 12 months from the date of approval of the financial statements.

After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.

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.

Debtors

Trade and other debtors are recognised at the transaction price and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the debtors are stated at cost less impairment losses for bad

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

In the statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and for an integral part of the Company's cash management.

Creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of the discounting would be immaterial, in which care they were stated at cost.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loan from bank and investments in non puttable ordinary shares.

Debt instruments (other than those repayable or receivable within one year), including loan and other amounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently at amortised rate using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangement of a short term instrument constitute a financing transaction, like the payment of a trade debts deferred beyond normal business terms or financial at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate of interest, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at the amortised cost.

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

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

30.9.25

30.9.24

£

£

United Kingdom

1,484,268

1,529,123

1,484,268

1,529,123

4.	EMPLOYEES AND DIRECTORS

30.9.25

30.9.24

£

£

Wages and salaries

37,600

45,200

Social security costs

3,163

3,291

Other pension costs

86,400

60,000

127,163

108,491

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

30.9.25

30.9.24

Management

3

3

30.9.25

30.9.24

£

£

Directors' remuneration

37,600

30,200

Directors' pension contributions to money purchase schemes

86,400

60,000

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

Money purchase schemes

2

2

5.	OPERATING PROFIT

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

30.9.25

30.9.24

£

£

Depreciation - owned assets

224,395

223,533

Depreciation - assets on hire purchase contracts

11,983

-

Profit on disposal of fixed assets

(2,810

)

-

Audit Fees

8,400

8,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

30.9.25

30.9.24

£

£

Mortgage

-

6,698

7.

TAXATION

Analysis of the tax charge

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

30.9.25

30.9.24

£

£

Current tax:

UK corporation tax

269,631

287,377

Deferred tax:

Deferred tax

4,514

(7,916

)

Over provision prior years

74

(13,654

)

Total deferred tax

4,588

(21,570

)

Tax on profit

274,219

265,807

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

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

30.9.25

30.9.24

£

£

Profit before tax

2,091,379

1,491,772

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

522,845

372,943

Effects of:

Expenses not deductible for tax purposes

3,734

8,952

Income not taxable for tax purposes

(300,000

)

(150,000

)

Adjustments to tax charge in respect of previous periods

74

(13,654

)

Depreciation on ineligibles

47,566

47,566

Total tax charge

274,219

265,807

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30 September 2025.

30.9.24

Gross

Tax

Net

£

£

£

Purchase of own shares

(110,677

)

-

(110,677

)

Reduction of share capital

32,565

-

32,565

(78,112

)

-

(78,112

)