REGISTERED NUMBER: SC199419 (Scotland)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2025

for

Burns Construction (Aberdeen) Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

Mr G Bruce

Mr K McPhee

REGISTERED OFFICE:

Amicable House

252 Union Street

Aberdeen

AB10 1TN

REGISTERED NUMBER:

SC199419 (Scotland)

AUDITORS:

SBP

Accountants and

Registered Auditors

42 Queens Road

Aberdeen

AB15 4YE

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

PRINCIPAL ACTIVITIES

The company is still privately owned and operates principally in the Northeast of Scotland.

The principal activity continues to be the Maintenance, Renovation and Construction of Commercial and Domestic Property.

FAIR REVIEW OF BUSINESS

The company performed well throughout 2025 with final turnover topping off at just over £20 million (2024- £18m). Positive results were also delivered on the margin front with a gross margin of approximately 14.0% (2024- 14.7%) resulting in a net margin of 4.3% (2024 -2.9%). Overall, post-tax profit for the financial year of £0.9 million (2024- £0.5 million) and net assets of £2.5 million (2024- £1.9m) were recorded.

Our original budget / forecast for 2025 was £18 million with a gross margin of 8% as such we have exceeded our expectations making it another successful year in business.

Company trading for 2026

Following a sustained period of growth within the industry over recent years, we are now beginning to experience a slowdown in market activity. The local economy has softened considerably, with fewer projects being brought to market and a reduction in tender opportunities across our core sectors. In addition, the ongoing challenges within the oil and gas industry, which remains a significant contributor to the regional economy, have negatively impacted business confidence and consumer spending. This has resulted in a more cautious approach to investment and development by both commercial and private clients.

Based on our current order book and forecasted workload, we anticipate turnover for 2026 will reduce to approximately £16 million, with a forecast gross margin of around 6-7%. Whilst this represents a reduction from the record levels achieved in recent years, it remains a healthy level of trading and is reflective of current market conditions rather than any loss of market share or operational performance.

At present, we do not anticipate any significant impact on our core workforce, and we remain committed to retaining our experienced labour and staff resources to ensure we are well positioned when market conditions improve. Although trading conditions are expected to be more challenging during 2026, this does not give rise to significant concern. The substantial growth achieved by the company over recent years has strengthened our financial position and provides a solid platform from which to navigate a softer market.

Furthermore, the anticipated reduction in project workload may present opportunities to diversify our activities and pursue alternative revenue streams, including our own development projects. The company also remains in a strong financial position, with minimal external debt and only hire purchase obligations relating to certain company vehicles. This provides the business with the flexibility and resilience required to manage a period of reduced market activity whilst continuing to pursue strategic growth opportunities.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors regularly review the risks and uncertainties affecting the business to ensure these are monitored and mitigated wherever possible. The key risks are considered to be changes in the economic environment, fluctuations in material pricing and availability of labour.

KEY PERFORMANCE INDICATORS

Key performance indicators for the entity are turnover and gross margin which are monitored when assessing the development, performance and financial position of the business. The increase in turnover this year are in line with expectations given the industry conditions in recent years as referred to above.

ON BEHALF OF THE BOARD:

Mr K McPhee - Director

24 June 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of maintenance, renovation and construction of commercial and domestic property.

The company is privately owned and operates principally in the North East of Scotland.

DIVIDENDS

Ordinary dividends were paid amounting to £304,004 (2024 - £235,212). The directors do not recommend payment of a final dividend.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

Mr G Bruce

Mr K McPhee

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

AUDITORS

The auditors, SBP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr K McPhee - Director

24 June 2026

Opinion

We have audited the financial statements of Burns Construction (Aberdeen) Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of 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 31 December 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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

In identifying and assessing the risk of material misstatement due to non-compliance with laws and regulations we have:

- Ensured that the engagement team had the appropriate competence, capabilities and skills to identify or recognise non-compliance with laws and regulations;

- Identified the laws and regulations applicable to the entity through discussions with directors and management and

through our own knowledge of the sector;

- Focussed on the specific laws and regulations we consider may have a direct effect on the financial statements, including FRS102, the Companies Act 2006 and tax compliance regulations;

- Reviewed the financial statement disclosures and tested to supporting documentation to assess compliance with

applicable laws and regulations;

- Made enquiries of management and inspected legal correspondence;

- Ensured the engagement team remained alert to instances of non-compliance throughout the audit; and

- Focussed on the specific laws and regulations we consider may have an indirect effect on the financial statements

that are central to the entity's ability to trade including those relating to employees, and health and

safety.

In identifying and assessing the risk of material misstatement due to irregularities, including fraud and how it may occur, and the potential for management bias and the override of controls we have:

- Obtained an understanding of the entity's operations, including the nature of its revenue sources, to understand the classes of transactions, account balances, expected financial disclosures and business risks that may result in risk of material misstatement;

- Vouched balances and reconciling items in key control account reconciliations to supporting documentation;

- Carried out detailed testing, on a sample basis, to verify the completeness, validity, existence, occurrence and accuracy of income including cut-off testing and ensuring income recognition is in line with stated accounting policies;

- Made enquiries of management as to where they consider there was a susceptibility to fraud, and their knowledge of any actual, suspected or alleged fraud;

- Tested journal entries to identify any unusual transactions;

- Performed analytical procedures to identify any significant or unusual transactions;

-Investigated the business rationale behind any significant or unusual transactions; and

- Evaluated the appropriateness of accounting policies and the reasonableness of accounting estimates.

We did not identify any matters relating to non-compliance with laws and regulations, or relating 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.

Ronnie Birnie, FCCA (Senior Statutory Auditor)

for and on behalf of SBP

Accountants and

Registered Auditors

42 Queens Road

Aberdeen

AB15 4YE

24 June 2026

Statutory Auditors

TURNOVER

4

20,371,074

17,640,641

Cost of sales

17,527,511

15,047,676

GROSS PROFIT

2,843,563

2,592,965

Administrative expenses

1,684,016

1,870,788

OPERATING PROFIT

7

1,159,547

722,177

Interest receivable and similar income

8

14,929

15,035

1,174,476

737,212

Interest payable and similar expenses

9

19,365

15,452

PROFIT BEFORE TAXATION

1,155,111

721,760

Tax on profit

10

290,245

216,532

PROFIT FOR THE FINANCIAL YEAR

864,866

505,228

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

864,866

505,228

FIXED ASSETS

Intangible assets

12

-

-

Tangible assets

13

311,281

325,259

311,281

325,259

CURRENT ASSETS

Stocks

14

67,436

232,449

Debtors

15

4,746,442

3,460,785

Cash at bank and in hand

2,163,158

2,583,809

6,977,036

6,277,043

CREDITORS

Amounts falling due within one year

16

4,679,929

4,520,282

NET CURRENT ASSETS

2,297,107

1,756,761

TOTAL ASSETS LESS CURRENT LIABILITIES

2,608,388

2,082,020

CREDITORS

Amounts falling due after more than one year

17

(68,621

)

(99,842

)

PROVISIONS FOR LIABILITIES

20

(77,820

)

(81,093

)

NET ASSETS

2,461,947

1,901,085

CAPITAL AND RESERVES

Called up share capital

21

21,000

21,000

Share premium

22

53,569

53,569

Capital redemption reserve

22

19,000

19,000

Retained earnings

22

2,368,378

1,807,516

SHAREHOLDERS' FUNDS

2,461,947

1,901,085

The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2026 and were signed on its behalf by:

Mr G Bruce - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

21,000

1,537,500

53,569

19,000

1,631,069

Changes in equity

Dividends

-

(235,212

)

-

-

(235,212

)

Total comprehensive income

-

505,228

-

-

505,228

Balance at 31 December 2024

21,000

1,807,516

53,569

19,000

1,901,085

Changes in equity

Dividends

-

(304,004

)

-

-

(304,004

)

Total comprehensive income

-

864,866

-

-

864,866

Balance at 31 December 2025

21,000

2,368,378

53,569

19,000

2,461,947

1.	STATUTORY INFORMATION

Burns Construction (Aberdeen) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The 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 pound.

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 requirement of paragraph 33.7.

The financial statements of the company are consolidated in the financial statements of Burns Construction Holdings Ltd. These consolidated financial statements are available from its registered office, 252 Union Street, Aberdeen, AB10 1TN.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for at least twelve months from the date of signing the financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents amounts receivable for goods and services net of VAT.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Profit is recognised on construction contracts, if the final outcome can be assessed with reasonable certainty, by including in the statement of comprehensive income turnover and related costs as contract activity progresses. Turnover is calculated as the value of work certified to date. Where the expected outcome of construction contracts is expected to generate a loss, the full expected loss is recognised immediately in cost of sales.

Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses 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 on a systematic basis over its expected life of 10 years.

Goodwill has been fully amortised and there was no amortisation charged in the current financial year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

10% on cost

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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. 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.

Stocks and work in progress

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

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.

Financial instruments

The company 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 company’s balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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

Basic financial assets, which include debtors, loans to fellow group companies 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price. 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.

Equity instruments

Equity instruments issued by the company 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 company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Cash at bank and in hand

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

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’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 are considered to be either judgements that have had the most significant effect on amounts recognised in the financial statements, or estimates that are dependent upon assumptions which could change in the next financial year and have a material effect on the carrying amounts of assets and liabilities recognised at the balance sheet date:

- Management assesses the stage of completion of long-term contracts and their likely outcome in order to determine the amount of turnover and profit relating to that contract to be recognised in the financial statements. Profit is only recognised when the final outcome can be assessed with reasonable certainty. The directors monitor costs and estimates of costs to complete to ensure any loss making contracts are identified and accounted for.

The directors consider that there are no other judgements, estimates and underlying assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

4.

TURNOVER

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

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

31.12.25

31.12.24

£

£

Provision of services

20,371,074

17,640,641

20,371,074

17,640,641

An analysis of turnover by geographical market is given below:

31.12.25

31.12.24

£

£

United Kingdom

20,371,074

17,640,641

20,371,074

17,640,641

5.	EMPLOYEES AND DIRECTORS

31.12.25

31.12.24

£

£

Wages and salaries

1,898,211

2,031,199

Social security costs

243,639

209,607

Other pension costs

95,574

181,050

2,237,424

2,421,856

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

31.12.25

31.12.24

Labour

36

40

Admin

9

9

Directors

2

2

47

51

6.	DIRECTORS' EMOLUMENTS

31.12.25

31.12.24

£

£

Directors' remuneration

283,915

403,769

Directors' pension contributions to money purchase schemes

49,015

129,015

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

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

31.12.25

31.12.24

£

£

Emoluments etc

142,160

202,034

Pension contributions to money purchase schemes

24,507

64,507

7.	OPERATING PROFIT

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

31.12.25

31.12.24

£

£

Depreciation - owned assets

49,983

46,922

Depreciation - assets on hire purchase contracts

84,807

73,596

Profit on disposal of fixed assets

(34,949

)

(17,750

)

Fees payable to the company's auditor for the audit of the company's financial statements

21,800

21,750

Operating lease charges

60,000

60,000

8.

INTEREST RECEIVABLE AND SIMILAR INCOME

31.12.25

31.12.24

£

£

Interest received (gross)

14,929

15,035

9.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.25

31.12.24

£

£

Bank loan interest

428

678

Hire purchase

18,937

14,774

19,365

15,452

10.

TAXATION

Analysis of the tax charge

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

31.12.25

31.12.24

£

£

Current tax:

UK corporation tax

293,518

182,329

Deferred tax

(3,273

)

34,203

Tax on profit

290,245

216,532

UK corporation tax has been charged at 25% (2024 - 25%).

Reconciliation of total tax charge included in profit and loss

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

31.12.25

31.12.24

£

£

Profit before tax

1,155,111

721,760

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

288,778

180,440

Effects of:

Expenses not deductible for tax purposes

1,288

2,679

Income not taxable for tax purposes

(8,737

)

-

Capital allowances in excess of depreciation

-

(1,180

)

Depreciation in excess of capital allowances

12,232

-

Group relief

(43

)

(304

)

Remeasurement of deferred tax for changes in tax rates

-

694

Deferred tax

(3,273

)

34,203

Total tax charge

290,245

216,532

11.

DIVIDENDS

31.12.25

31.12.24

£

£

Ordinary shares of 1 each

Interim

304,004

235,212

12.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

58,987

AMORTISATION

At 1 January 2025

and 31 December 2025

58,987

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-