REGISTERED NUMBER: 12374490 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30 September 2025

for

A.V. Dawson Transport Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

10

Balance Sheet

11

Notes to the Financial Statements

12

DIRECTORS:

G S Dawson

J E Young

C Lloyd

L Croce

A K Watkins

C Nettle

REGISTERED OFFICE:

The Staiths Port of Middlesbrough

Depot Road

Middlesborough

TS2 1LE

REGISTERED NUMBER:

12374490 (England and Wales)

SENIOR STATUTORY AUDITOR:

Simon Hook FCCA

AUDITORS:

Clive Owen LLP

Chartered Accountants and Statutory Auditors

Kepier House

Belmont Business Park

Durham

DH1 1TW

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

REVIEW OF BUSINESS

The company's principal activity during the year continues to be that of haulage, storage and handling operations and the provision of workshop services.

The key financial and other performance indicators during the year were as follows:

2025

2024

Variance

£'000s

£'000s

%

Turnover

12,649

12,048

5%

(Loss)/Profit before tax

45

(1)

4,600%

Despite facing challenging economic conditions, company turnover has grown by 4.9%. Additionally, the company is actively pursuing new market opportunities, investing in assets and diversifying its customer base to mitigate future risks. Whilst the economic and political environment remains challenging, these strategic initiatives are expected to drive further growth in the coming years.

PRINCIPAL RISKS AND UNCERTAINTIES

The company constantly reviews any potential risks and uncertainties within the industry sectors in which it operates. The principal risks and uncertainties facing the company are broadly grouped as: health & safety, economy, investment, competitive and financial.

Health & Safety

Safety is the primary company core value and as such is the first agenda item at all Board meetings. The Chairman presents this item to other Board Members and all lost time injury and injury frequencies rates are reviewed. These Key Performance Indicators (KPI's) are communicated to all employees across the business on a regular basis so that everyone is fully aware of our safety performance. Everyone is actively encouraged to report all unsafe and near miss incidents in order that they can be investigated, with learning outcomes highlighted and proactive actions implemented.

During 2025, the AV Dawson Group were awarded the RoSPA Fleet Safety Award, recognising our systems for managing road risk and highlighting our commitment to Health and Safety best practices.

A summary of Health & Safety KPI's for the year ended 30 September 2025 (including comparatives) is shown below.

Health & Safety KPI's

KPI Name

Injury Frequency Rate (IFR)

Lost Time Injury (LTI)

KPI Result

0.67 (2024: 0.67)

1 (2024: 1)

Definition

Injuries per million working hours.

Did not return to work after injury.

Why we measure

Safety is the business's core value. These metrics track our health and safety performance and are communicated across the business to all employees.

Economy

Our business remains exposed to economic fluctuations and customer sentiment influenced by the state of the economy. To reduce this vulnerability, we are committed to providing the highest level of customer service. Key drivers for our future sustainability include diversifying revenue streams through strategic business development and implementing continuous operational efficiencies that offer cost-effective solutions for our customers.

PRINCIPAL RISKS AND UNCERTAINTIES (CONTINUED)

Investment

The company's current infrastructure programme will see the following investments completed within the next financial year:

i) Renewal of the tractor unit fleet

ii) Renewal of the trailer fleet

Competitive

The current volatility affecting the steel industry may have a substantial effect on future trading performance. The company continues to develop new business streams to mitigate the effect of a downturn in the above industry sector and this will continue throughout 2025 and beyond. The company's strategy remains that of diversifying revenue streams to dilute revenue concentration with a single customer.

Financial

Major capital investment combined with the repayment of term loan debt has resulted in a reduction to company cash balances. A.V. Dawson Transport Limited is primarily financed by an intercompany loan provided by the parent. Repayment of this loan is subject to affordability.

Personnel and Training

Leadership and succession planning has been identified as critical to the future success of A.V. Dawson Transport Ltd. The AV Dawson Leadership Academy was launched in 2023 to identify and develop talent and to fill leadership and succession gaps. Throughout 2025 this was expanded to include more colleagues, and the introduction of the Skills Academy under the leadership of a dedicated Competency Manager ensures the business is investing in developing the skills required within the industry sector. Investing in our people is a clearly defined and ongoing objective.

Critical Success Factors

Critical success factors focusing on culture and values, business development, IT optimisation, and waste minimisation continue to progress. These development areas tie in closely with the AV Dawson Group strategic plan which will underpin the long-term success of A.V. Dawson Transport Ltd.

Compliance and Governance

Development of professional support functions within the AV Dawson Group including Human Resources, Health and Safety, Procurement, Commercial and Marketing continues apace. This consistent, structured and focussed support enables departmental managers to better maximise commercial and operational opportunities within their areas, whilst ensuring they remain engaged with relevant legal and corporate obligations.

ON BEHALF OF THE BOARD:

J E Young - Director

25 June 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of freight transport by road.

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.

G S Dawson

J E Young

C Lloyd

L Croce

A K Watkins

C Nettle

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Clive Owen LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

J E Young - Director

25 June 2026

Opinion

We have audited the financial statements of A.V. Dawson Transport Ltd (the 'company') for the year ended 30 September 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 September 2025 and of its loss 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.

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, to detect material misstatements in respect of irregularities, including fraud. Our audit must be alert to the risk of manipulation of the financial statements and seek to understand the incentives and opportunities for management to achieve this.

We undertake the following procedures to identify and respond to these risks of non-compliance:

- Understanding the key legal and regulatory frameworks that are applicable to the Company. We communicated identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. We determined the most significant of these to be the Health & Safety at work act, Fire precautions act, Employment legislation, Transport and haulage regulations.

- Enquiry of directors and management as to policies and procedures to ensure compliance and any known instances of non-compliance

- Enquiry of directors and management as to areas of the financial statements susceptible to fraud and how these risks are managed

- Review of board minutes and correspondence with regulators.

- Challenging management on key estimates, assumptions and judgements made in the preparation of the financial statement. Key estimates are stated in the accounting policies.

- Identifying and testing unusual journal entries, with a particular focus on manual journal entries.

Through these procedures, we did not become aware of actual or suspected non-compliance.

We planned and performed our audit in accordance with auditing standards but owing to the inherent limitations of procedures required in these areas, there is an unavoidable risk that we may not have detected a material misstatement in the accounts. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment, collusion, forgery, misrepresentations, or override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Simon Hook FCCA (Senior Statutory Auditor)

for and on behalf of Clive Owen LLP

Chartered Accountants and Statutory Auditors

Kepier House

Belmont Business Park

Durham

DH1 1TW

25 June 2026

TURNOVER

12,648,572

12,047,588

Cost of sales

(10,168,968

)

(10,068,414

)

GROSS PROFIT

2,479,604

1,979,174

Administrative expenses

(2,388,120

)

(1,960,727

)

91,484

18,447

Other operating income

18,273

-

OPERATING PROFIT

4

109,757

18,447

Interest payable and similar expenses

5

(65,081

)

(18,993

)

PROFIT/(LOSS) BEFORE TAXATION

44,676

(546

)

Tax on profit/(loss)

6

(122,842

)

(17,422

)

LOSS FOR THE FINANCIAL YEAR

(78,166

)

(17,968

)

Retained earnings at beginning of year

307,901

325,869

RETAINED EARNINGS AT END OF YEAR

229,735

307,901

FIXED ASSETS

Tangible assets

7

1,280,904

537,753

CURRENT ASSETS

Stocks

8

7,392

-

Debtors

9

2,264,941

1,412,115

Cash at bank

-

318,697

2,272,333

1,730,812

CREDITORS

Amounts falling due within one year

10

(1,995,741

)

(1,067,099

)

NET CURRENT ASSETS

276,592

663,713

TOTAL ASSETS LESS CURRENT LIABILITIES

1,557,496

1,201,466

CREDITORS

Amounts falling due after more than one year

11

(1,204,819

)

(893,465

)

PROVISIONS FOR LIABILITIES

15

(122,842

)

-

NET ASSETS

229,835

308,001

CAPITAL AND RESERVES

Called up share capital

16

100

100

Retained earnings

17

229,735

307,901

SHAREHOLDERS' FUNDS

229,835

308,001

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2026 and were signed on its behalf by:

J E Young - Director

C Lloyd - Director

1.	STATUTORY INFORMATION

A.V. Dawson Transport Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates.

The items in the financial statements where these judgements and estimates have been made include:

Depreciation - Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset. An estimate of the useful economic life of assets is detailed in the depreciation accounting policy. The value of depreciation charge in the profit and loss account during the year was £391,560.

Provisions - There is an element of estimation and judgement made by the directors when considering some of the accruals not yet billed e.g. Rates and Dilapidation provision.

Accrued income - There is an element of estimation and judgement made by the directors when considering some of the income not yet billed.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition

Income is recognised when the conditions contained within a contract for services have been met.

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.

Plant and machinery

-

10% - 50% on cost

Motor vehicles

-

25% on reducing balance and 10% - 50% on cost

Workshop and office equipment

-

15% to 33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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

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

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

Hire purchase and leasing commitments

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

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

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.

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

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,310,577

3,324,500

Social security

379,168

346,585

Pension

193,381

180,270

3,883,126

3,851,355

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

2025

2024

Management

2

2

Administration

13

13

Drivers

59

59

74

74

2025

2024

£

£

Directors' remuneration

-

-

4.	OPERATING PROFIT

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

2025

2024

£

£

Depreciation - owned assets

229,916

391,561

Depreciation - assets on hire purchase contracts

240,386

-

Profit on disposal of fixed assets

(65,700

)

(76,436

)

Audit fee

17,500

13,600

Foreign exchange differences

1,870

2,173

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Loan interest

1,951

1,656

Hire purchase

63,130

17,337

65,081

18,993

6.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

-

17,422

Deferred tax

122,842

-

Tax on profit/(loss)

122,842

17,422

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:

2025

2024

£

£

Profit/(loss) before tax

44,676

(546

)

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

11,169

(137

)

Effects of:

Expenses not deductible for tax purposes

1,174

(7,535

)

Capital allowances in excess of depreciation

(125,094

)

(48,728

)

Utilisation of tax losses

235,593

73,822

Total tax charge

122,842

17,422

7.	TANGIBLE FIXED ASSETS

Workshop

Capital

and

Plant and

work in

Motor

office

machinery

progress

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 October 2024

26,711

7,000

970,419

14,850

1,018,980

Additions

21,977

-

1,198,476

-

1,220,453

Disposals

(3,600

)

(7,000

)

-

-

(10,600

)

At 30 September 2025

45,088

-

2,168,895

14,850

2,228,833

DEPRECIATION

At 1 October 2024

22,329

-

450,648

8,250

481,227

Charge for year

5,978

-

459,374

4,950

470,302

Eliminated on disposal

(3,600

)

-

-

-

(3,600

)

At 30 September 2025

24,707

-

910,022

13,200

947,929

NET BOOK VALUE

At 30 September 2025

20,381

-

1,258,873

1,650

1,280,904

At 30 September 2024

4,382

7,000

519,771

6,600

537,753

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

1,048,957

At 30 September 2025

1,048,957

DEPRECIATION

Charge for year

240,386

At 30 September 2025

240,386

NET BOOK VALUE

At 30 September 2025

808,571

8.

STOCKS

2025

2024

£

£

Consumables

7,392

-

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,874,481

1,120,649

Prepayments and accrued income

390,460

291,466

2,264,941

1,412,115

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 12)

209,975

-

Hire purchase contracts (see note 13)

236,015

-

Trade creditors

316,784

370,969

Amounts owed to group undertakings

100,000

200,000

Corporation tax

-

2,977

Taxation and social security

631,920

228,093

Other creditors

94,826

51,740

Accruals and deferred income

406,221

213,320

1,995,741

1,067,099

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 13)

510,209

-

Amounts owed to group undertakings

694,610

893,465

1,204,819

893,465

12.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

209,975

-

13.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Gross obligations repayable:

Within one year

262,618

-

Between one and five years

565,632

-

828,250

-

Finance charges repayable:

Within one year

26,603

-

Between one and five years

55,423

-

82,026

-

Net obligations repayable:

Within one year

236,015

-

Between one and five years

510,209

-

746,224

-

14.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

209,975

-

Hire purchase contracts

746,224

-

956,199

-

The bank loans and overdrafts are secured by a fixed and floating charge over the property of the Group. The hire purchase contracts are secured over the assets to which they relate.

15.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

122,842

-