REGISTERED NUMBER: 00138263 (England and Wales)

IMMEDIATE TRANSPORTATION COMPANY LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

R Mantel

M J Mantel

S M Mantel

REGISTERED OFFICE:

Unit 9

J4 Stanhope Road

Camberley

Surrey

GU14 3BW

REGISTERED NUMBER:

00138263 (England and Wales)

SENIOR STATUTORY AUDITOR:

Roger Cox FCA

AUDITORS:

Miller & Co

Statutory Auditor

Chartered Accountants

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

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

REVIEW OF BUSINESS

The results for the year are set out on page 9. The Company's key performance indicators are Turnover and Operating Profit.

Turnover for the year amounted to £15,245,385 (2024 £14,776,362) and is up by 3% when compared with the previous year. Turnover is now back to normal recent historical levels following a period of volatility caused by Covid and so is a comparable baseline.

Despite challenging operating costs in global trade, the company has managed to achieve a small increase in trading margins. The increased turnover and margins has meant an increase in gross profit of £613,172. This has lead to the company posting an operating profit for the year before tax of £187,561 compared to £172,072 in 2024.

The Company continues to have material liquid resources.

Whilst the challenging market condition continue to prevail, the directors believe the Company continues to benefit from the wide range of activities it carries out and from its strong management team and are pleased with the financial performance of the Company.They are looking forward to continuing to explore opportunities from their new location and larger premises.

PRINCIPAL RISKS AND UNCERTAINTIES

The principle risks and uncertainties facing the Company continue to be the impact of market share and the pressure on margins brought about by ever increasing competition and world events impacting the oil price with a knock on effect for the transportation industry.

The Company, in an effort to manage its commercial risk, ensures that its pricing policy remains competitive and that it keeps a close relationship with its customers whose needs are treated as paramount. However the current strength of the shipping industry has made it difficult to maintain margins.

The Company's credit risk is primarily attributed to its trade debtors and continues to be managed by operating strict credit checks on new customers and closely monitoring the credit limits of existing customers by reference to current financial information. The Company continues to have an increasingly diversified customer base, which helps to reduce the exposure to bad debts.

The Company's response to a difficult economic climate continues to be to develop its sales activity.

Cash flow is closely monitored as part of the Company's day to day control procedures.

The directors continue to focus on these points in their strategy for the future.

ON BEHALF OF THE BOARD:

M J Mantel - Director

23 June 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of Shipping and Forwarding Agents with Ancillary Activities.

DIVIDENDS

During the year the Directors have paid dividends on the Ordinary Shares totalling £127,600 (2024 £121,000).

Since 1988 the directors have suspended payment of the Preference Share Dividend until further notice. This suspension is still in place and at 30 November 2025 the arrears of Preference Share Dividend amounted to £43,141 (2024 £41,990).

FUTURE DEVELOPMENTS

The Company continues to promote its activities, in particular its warehousing and distribution division.

The Company relocated to larger premises in October 2024, and continues to seek new customers and opportunities resulting from this relocation. However due to geopolitical events in the gulf since the year end and the resulting spike in oil prices it remains a challenging trading environment.

DIRECTORS

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

R Mantel

M J Mantel

S M Mantel

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, Miller & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M J Mantel - Director

23 June 2026

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 November 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 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 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, including fraud.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to these risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry, control environment and business performance;

- the results of our enquiries of management about their own identification and assessments of the risks of

irregularities;

- any matters we identified having obtained and reviewed the company's policies and procedures relating to:

o identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of

non-compliance;

o detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or

alleged fraud;

o the matters discussed among the audit engagement team regarding how and where fraud might occur in the

financial statements and any potential indicators of fraud.

In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.

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.

Roger Cox FCA (Senior Statutory Auditor)

for and on behalf of Miller & Co

Statutory Auditor

Chartered Accountants

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

23 June 2026

TURNOVER

5

15,245,385

14,776,362

Cost of sales

9,182,022

9,326,171

GROSS PROFIT

6,063,363

5,450,191

Administrative expenses

5,962,599

5,462,159

100,764

(11,968

)

Other operating income

6

86,797

184,040

OPERATING PROFIT

8

187,561

172,072

Interest receivable and similar income

9

823

3,367

188,384

175,439

Interest payable and similar expenses

10

44,344

21,518

PROFIT BEFORE TAXATION

144,040

153,921

Tax on profit

11

50,070

19,364

PROFIT FOR THE FINANCIAL YEAR

93,970

134,557

PROFIT FOR THE YEAR

93,970

134,557

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

93,970

134,557

FIXED ASSETS

Tangible assets

13

895,898

843,665

Investments

14

68,535

68,535

964,433

912,200

CURRENT ASSETS

Debtors

15

2,562,792

2,769,766

Cash at bank and in hand

334,284

514,922

2,897,076

3,284,688

CREDITORS

Amounts falling due within one year

16

2,548,010

2,713,899

NET CURRENT ASSETS

349,066

570,789

TOTAL ASSETS LESS CURRENT LIABILITIES

1,313,499

1,482,989

CREDITORS

Amounts falling due after more than one year

17

(172,419

)

(358,349

)

PROVISIONS FOR LIABILITIES

21

(69,434

)

(19,364

)

NET ASSETS

1,071,646

1,105,276

CAPITAL AND RESERVES

Called up share capital

22

1,000

1,000

Retained earnings

23

1,070,646

1,104,276

SHAREHOLDERS' FUNDS

1,071,646

1,105,276

The financial statements were approved by the Board of Directors and authorised for issue on 23 June 2026 and were signed on its behalf by:

M J Mantel - Director

S M Mantel - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 December 2023

1,000

1,090,719

1,091,719

Changes in equity

Dividends

-

(121,000

)

(121,000

)

Total comprehensive income

-

134,557

134,557

Balance at 30 November 2024

1,000

1,104,276

1,105,276

Changes in equity

Dividends

-

(127,600

)

(127,600

)

Total comprehensive income

-

93,970

93,970

Balance at 30 November 2025

1,000

1,070,646

1,071,646

Cash flows from operating activities

Cash generated from operations

1

378,236

115,266

Interest paid

(19,227

)

(12,509

)

Interest element of hire purchase payments paid

(25,117

)

(9,009

)

Tax paid

(2

)

-

Net cash from operating activities

333,890

93,748

Cash flows from investing activities

Purchase of tangible fixed assets

(295,616

)

(825,795

)

Sale of tangible fixed assets

40,100

21,500

Interest received

823

3,367

Net cash from investing activities

(254,693

)

(800,928

)

Cash flows from financing activities

New loans in year

-

304,500

Loan repayments in year

(147,938

)

(23,529

)

Capital repayments in year

13,238

293,762

Amount introduced by directors

2,465

15

Equity dividends paid

(127,600

)

(121,000

)

Net cash from financing activities

(259,835

)

453,748

Decrease in cash and cash equivalents

(180,638

)

(253,432

)

Cash and cash equivalents at beginning of year

2

514,922

768,354

Cash and cash equivalents at end of year

2

334,284

514,922

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

2025

2024

£

£

Profit before taxation

144,040

153,921

Depreciation charges

238,416

90,715

Profit on disposal of fixed assets

(35,133

)

(21,500

)

Finance costs

44,344

21,518

Finance income

(823

)

(3,367

)

390,844

241,287

Decrease/(increase) in trade and other debtors

206,974

(520,779

)

(Decrease)/increase in trade and other creditors

(219,582

)

394,758

Cash generated from operations

378,236

115,266

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 November 2025

30.11.25

1.12.24

£

£

Cash and cash equivalents

334,284

514,922

Year ended 30 November 2024

30.11.24

1.12.23

£

£

Cash and cash equivalents

514,922

768,354

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.12.24

Cash flow

At 30.11.25

£

£

£

Net cash

Cash at bank and in hand

514,922

(180,638

)

334,284

514,922

(180,638

)

334,284

Debt

Finance leases

(363,577

)

(13,238

)

(376,815

)

Debts falling due within 1 year

(147,938

)

14,906

(133,032

)

Debts falling due after 1 year

(147,412

)

133,032

(14,380

)

(658,927

)

134,700

(524,227

)

Total

(144,005

)

(45,938

)

(189,943

)

1.	GENERAL INFORMATION

The nature of the company's operations and principal activity is set out in the Report of the Directors.

2.	STATUTORY INFORMATION

The presentation currency of the financial statements is the Pound Sterling rounded to the nearest pound.

3.	STATEMENT OF COMPLIANCE

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

4.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about IMMEDIATE TRANSPORTATION COMPANY LIMITED as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, ITC (Holdings) Limited.

Significant judgements and estimates

In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical accounting judgements and key sources of estimation uncertainty

The Directors are of the opinion that there are no critical judgements that have been applied in preparing the financial statements.

Turnover and revenue recognition

Turnover represents the amounts charged for services provided as Shipping and Forwarding Agents to customers, for which the company has obtained the right to consideration, net of value added tax.

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of discounts and value added tax.

Revenue from services is recognised on shipment of goods, when the significant risks and rewards of ownership have been transferred to the buyer, the company retains no continuing involvement or control over the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of transactions can be measured reliably.

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.

Improvements to property

-

Over the lease term of 10 years

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Tangible assets are stated at cost less accumulated depreciation and any provision for impairment.

Investments in subsidiaries

Investment in a subsidiary company is held at cost.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities including cash and bank balances, trade and other accounts receivable and payable and loans from banks and other third parties. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction or debt instrument is measured at the present value of future receipts discounted at a market rate of interest. Such assets and debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial liabilities

Basic financial liabilities, which include creditors and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction or debt instrument is measured at the present value of future receipts discounted at a market rate of interest. Such assets and debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities due within one year are not amortised.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 shorter.

The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of capital repayments outstanding.

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

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

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of the incentives is recognised as a reduction of rental expenses on a straight-line basis over the period of the first rent review date on which the rent is adjusted to market rates.

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.

Other significant accounting policies

Trade and other debtors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the un-discounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be material, in which case they are stated at cost.

Government grants

Government grants are included in the financial statements in the period to which they relate.

5.

TURNOVER

Turnover represents the amounts charged for services provided as Shipping and Forwarding Agents to customers, for which the company has obtained the right to consideration, net of Value Added Tax. The total charges less allowances to customers for the year amounted to £15,245,385 (2024 £14,776,362). The company did not export any goods as principal during the year.

6.	OTHER OPERATING INCOME

2025

2024

£

£

Services receivable

94,700

181,250

Exchange gains

(7,903

)

2,790

86,797

184,040

7.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,345,750

2,152,461

Social security costs

272,614

228,580

Other pension costs

181,697

178,652

2,800,061

2,559,693

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

2025

2024

Office and Administration

9

9

Operational

49

49

58

58

2025

2024

£

£

Directors' remuneration

63,749

71,633

Directors' pension contributions to money purchase schemes

120,000

120,000

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

Money purchase schemes

2

2

8.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

243,140

263,090

Other operating leases

771,243

690,992

Depreciation - owned assets

59,192

21,555

Depreciation - assets on hire purchase contracts

179,224

69,160

Profit on disposal of fixed assets

(35,133

)

(21,500

)

Auditors' remuneration

22,950

21,800

Foreign exchange differences

7,903

(2,790

)

9.

INTEREST RECEIVABLE AND SIMILAR INCOME

2025

2024

£

£

Bank interest receivable

823

3,367

10.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank loan interest

17,921

4,114

Other interest

1,306

8,395

Hire purchase

25,117

9,009

44,344

21,518

11.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Deferred tax

50,070

19,364

Tax on profit

50,070

19,364