REGISTERED NUMBER: SC204765 (Scotland)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 30 September 2025

for

Dunns Food & Drinks Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Consolidated Income Statement

7

Consolidated Other Comprehensive Income

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Consolidated Cash Flow Statement

13

Notes to the Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

Ms J F Dunn

J C Rowan

SECRETARY:

J C Rowan

REGISTERED OFFICE:

32 Glasgow Road

Blantyre

G72 0JY

REGISTERED NUMBER:

SC204765 (Scotland)

AUDITORS:

O'Haras Accountants Limited (Statutory Auditor)

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

The directors present their strategic report of the company and the group for the year ended 30 September 2025.

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

Fair review of the business

The principal activity and core business of the company continued to be that of food and drink distribution to the licensed and non licensed trade. The year continued to be a demanding one, however turnover and gross profit performed within our expectations and our overheads remained tight.

Principal risks and uncertainties

The principal risk remains the economy, the cost-of-living crisis, energy prices and the continued conflicts in Europe. We review cashflow and overheads monthly and will look for technology to ensure we are efficient and competitive.

Our recently installed solar panels and more energy efficient cold room help us to become more sustainable and goes towards our target to become carbon neutral. The hospitality sector is continuing to experience many challenges, so we continue to mitigate this exposure by seeking new routes.

Trade has been strong throughout the year and our continued focus on value, range and service has allowed us to retain our core customer base as well as acquire new business. We expect figures for 2025/26 will continue to be strong.

Pension

The total payments made in respect of pension schemes for the year amounted to £584,097 (2024 - £753,087). Note 2 shows pension contributions of 227,957 (2024 - £408,088). The difference relates to contributions to the defined benefit pension scheme. The pension scheme adjustments affect all businesses, and this is merely a snap shot of the pension position as at 30 September 2025. Given the snap shot approach the pension scheme can just as easily result in a deficit in future years.

Included within total pension contributions for the year was an amount of £6,062 (2024 - £8,392) to refund the defined benefit scheme for the levy the scheme paid to the Pension Protection Fund for the year ended 5 April 2025, £12,786 (2024 - £13,794) to UNUM and £209,108 (2024 - £198,560) in administration costs and auto enrolment contributions. The company is liable for the Pension Protection Fund levy, insurance premiums for death in service benefits and management and administration expenses not covered by the policy within the scheme with Phoenix Life Limited.

The directors are confident that the core business will continue to be profitable and successful.

Financial instruments

The company mitigates any risk by:

- having good credit control procedures in place for collection of trade debtors and agreed payment terms in place with suppliers

- ensuring deposits are all in place with major UK financial institutions which are regulated by the Financial Conduct authority.

Key performance indicators

Our key performance indicators are sales, earnings and cash flows.

Future Developments

We continue to develop our core business but invest in our new sales media which will give a better balance to the turnover.

ON BEHALF OF THE BOARD:

J C Rowan - Director

22 June 2026

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

DIVIDENDS

No dividends will be distributed for the year ended 30 September 2025.

DIRECTORS

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

Ms J F Dunn

J C Rowan

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, O'Haras Accountants Limited (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J C Rowan - Director

22 June 2026

Opinion

We have audited the financial statements of Dunns Food & Drinks Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 30 September 2025 and of the group's 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 group 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 group's and the 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

The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 three, 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 group's and the parent 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 group or the parent 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:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates. We made enquiries of management as to whether there were any known or suspected instances of non-compliance with laws and regulations or fraud, and reviewed available board minutes for any indication of such matters.

We gained an understanding of management's internal controls designed to prevent and detect irregularities in their day-to-day operations.

We considered the company’s revenue recognition policy and performed substantive tests to confirm the completeness of revenue reported.

We considered laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, UK GAAP, the Companies Act 2006 and UK tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement components.Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of relevant third parties.

We considered how fraud might occur in this company and designed our tests accordingly.

We performed audit work to address the risk of management override of internal controls, including reviewing journals, reviewing for large or unusual items and transactions out with the normal course of business, and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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.

John O'Hara CA (Senior Statutory Auditor)

for and on behalf of O'Haras Accountants Limited (Statutory Auditor)

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

22 June 2026

TURNOVER

44,991,189

42,635,250

Cost of sales

35,466,087

33,758,729

GROSS PROFIT

9,525,102

8,876,521

Distribution costs

4,191,795

3,602,371

Administrative expenses

4,835,435

4,787,959

9,027,230

8,390,330

497,872

486,191

Other operating income

230,205

309,644

OPERATING PROFIT

3

728,077

795,835

Interest receivable and similar income

160,116

189,695

PROFIT BEFORE TAXATION

888,193

985,530

Tax on profit

4

178,170

251,416

PROFIT FOR THE FINANCIAL YEAR

710,023

734,114

Profit attributable to:

Owners of the parent

710,023

734,114

PROFIT FOR THE YEAR

710,023

734,114

OTHER COMPREHENSIVE INCOME

Actuarial (loss)/gain on defined pension

(391,049

)

(210,863

)

Income tax relating to other comprehensive income

97,763

52,716

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(293,286

)

(158,147

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

416,737

575,967

Total comprehensive income attributable to:

Owners of the parent

416,737

575,967

FIXED ASSETS

Intangible assets

6

44,102

75,734

Tangible assets

7

1,669,849

1,995,846

Investments

8

-

-

1,713,951

2,071,580

CURRENT ASSETS

Stocks

9

3,378,268

3,210,262

Debtors

10

3,855,318

3,819,896

Cash at bank and in hand

5,209,826

5,460,591

12,443,412

12,490,749

CREDITORS

Amounts falling due within one year

11

6,297,282

6,990,544

NET CURRENT ASSETS

6,146,130

5,500,205

TOTAL ASSETS LESS CURRENT LIABILITIES

7,860,081

7,571,785

PROVISIONS FOR LIABILITIES

13

(339,858

)

(423,253

)

PENSION ASSET

16

97,762

52,716

NET ASSETS

7,617,985

7,201,248

CAPITAL AND RESERVES

Called up share capital

14

8,627

8,627

Share premium

15

595,463

595,463

Capital redemption reserve

15

2,746

2,746

Retained earnings

15

7,011,149

6,594,412

SHAREHOLDERS' FUNDS

7,617,985

7,201,248

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

J C Rowan - Director

FIXED ASSETS

Intangible assets

6

14,950

37,375

Tangible assets

7

1,665,365

1,988,298

Investments

8

134,455

134,455

1,814,770

2,160,128

CURRENT ASSETS

Stocks

9

2,988,879

2,814,798

Debtors

10

3,721,209

3,790,732

Cash at bank and in hand

4,925,808

5,266,390

11,635,896

11,871,920

CREDITORS

Amounts falling due within one year

11

5,840,619

6,668,364

NET CURRENT ASSETS

5,795,277

5,203,556

TOTAL ASSETS LESS CURRENT LIABILITIES

7,610,047

7,363,684

PROVISIONS FOR LIABILITIES

13

(344,078

)

(423,433

)

PENSION ASSET

16

97,762

52,716

NET ASSETS

7,363,731

6,992,967

CAPITAL AND RESERVES

Called up share capital

14

8,627

8,627

Share premium

15

595,463

595,463

Capital redemption reserve

15

2,746

2,746

Retained earnings

15

6,756,895

6,386,131

SHAREHOLDERS' FUNDS

7,363,731

6,992,967

Company's profit for the financial year

664,050

703,491

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

J C Rowan - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 October 2023

8,628

6,018,445

595,463

2,746

6,625,282

Changes in equity

Issue of share capital

(1

)

-

-

-

(1

)

Total comprehensive income

-

575,967

-

-

575,967

Balance at 30 September 2024

8,627

6,594,412

595,463

2,746

7,201,248

Changes in equity

Total comprehensive income

-

416,737

-

-

416,737

Balance at 30 September 2025

8,627

7,011,149

595,463

2,746

7,617,985

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 October 2023

8,627

5,840,787

595,463

2,746

6,447,623

Changes in equity

Total comprehensive income

-

545,344

-

-

545,344

Balance at 30 September 2024

8,627

6,386,131

595,463

2,746

6,992,967

Changes in equity

Total comprehensive income

-

370,764

-

-

370,764

Balance at 30 September 2025

8,627

6,756,895

595,463

2,746

7,363,731

Cash flows from operating activities

Cash generated from operations

1

(251,573

)

(575,700

)

Tax paid

(84,618

)

(62,000

)

Net cash from operating activities

(336,191

)

(637,700

)

Cash flows from investing activities

Purchase of tangible fixed assets

(75,152

)

(541,373

)

Sale of tangible fixed assets

-

17,263

Interest received

160,116

189,695

Net cash from investing activities

84,964

(334,415

)

Cash flows from financing activities

Amount introduced by directors

462

-

Net cash from financing activities

462

-

Decrease in cash and cash equivalents

(250,765

)

(972,115

)

Cash and cash equivalents at beginning of year

2

5,460,591

6,432,706

Cash and cash equivalents at end of year

2

5,209,826

5,460,591

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

2025

2024

£

£

Profit before taxation

888,193

985,530

Depreciation charges

348,452

306,422

Loss on disposal of fixed assets

84,328

-

Pension scheme non-cash payment

(34,908

)

(210,863

)

Increase/(Decrease) in provisions

(356,139

)

33,170

Finance income

(160,116

)

(189,695

)

769,810

924,564

Increase in stocks

(168,006

)

(160,102

)

Increase in trade and other debtors

(35,884

)

(786,755

)

Decrease in trade and other creditors

(817,493

)

(553,407

)

Cash generated from operations

(251,573

)

(575,700

)

2.	CASH AND CASH EQUIVALENTS

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

Year ended 30 September 2025

30.9.25

1.10.24

£

£

Cash and cash equivalents

5,209,826

5,460,591

Year ended 30 September 2024

30.9.24

1.10.23

£

£

Cash and cash equivalents

5,460,591

6,432,706

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.24

Cash flow

At 30.9.25

£

£

£

Net cash

Cash at bank and in hand

5,460,591

(250,765

)

5,209,826

5,460,591

(250,765

)

5,209,826

Total

5,460,591

(250,765

)

5,209,826

1.	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.

Going concern

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue

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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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.

Goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised over a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated for testing for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

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

Freehold property

-

10% on cost and 2% on cost

Improvements to property

-

10% on cost and 2% on cost

Plant and machinery

-

25% on reducing balance, 15% on reducing balance and 10% - 20% Straight Line

Fixtures and fittings

-

15% on reducing balance and 10% - 20% Straight Line

Motor vehicles

-

25% on reducing balance and 20% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to there present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. 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. Reversals of impairment losses are also recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial advice.

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as an expense in measuring profit or loss in the period in which they arise.

The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking info account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in profit or loss as other finance revenue or cost.

Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability, excluding amounts included in net interest. These are recognised immediately in other comprehensive income in the period in which they occur and are not reclassified to profit and loss in subsequent periods.

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Impairment of fixed assets

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication 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.

Leases

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.

2.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,554,766

4,161,477

Social security costs

493,489

393,631

Other pension costs

227,957

408,088

5,276,212

4,963,196