REGISTERED NUMBER: 01452966 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

SERVICE CEILINGS LIMITED

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

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

A J Nurse

Mrs M C Nurse

A T Nurse

P A J Baker

SECRETARY:

D H Nash

REGISTERED OFFICE:

Sovereign Way

Trafalgar Industrial Estate

Downham Market

Norfolk

PE38 9SW

REGISTERED NUMBER:

01452966 (England and Wales)

SENIOR STATUTORY AUDITOR:

Robert Booty ACA FCCA CTA

AUDITORS:

Wheelers

Chartered Accountants, Tax Consultants

& Statutory Auditors

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

The directors submit their strategic report for the year ended 31 March 2026.

Review of the Business

During the financial year ended 31 March 2026, the company has been engaged with its core operations covering suspended ceilings, partitioning, drylining and SFS (steel framing solutions).

The company's turnover has been to expectations and the results of trading have been acceptable.

The satisfactory performance of the company is attributable to the principals of quality delivery, strong level of communications with customers and its supply chain and being responsive to demand.

Key financial indicators for the year are:

31 March 2026

31 March 2025

Change

£

£

Turnover

17,677,651

16,332,196

8.24%

Gross Profit

5,225,331

4,773,191

9.47%

Equity

4,130,281

3,557,554

16.10%

Average number of employees

62

67

(7.46%

)

The total equity increased in the year from £3,557,554 to £4,130,281 as a result of the profit after tax of £1,322,728 less dividends declared during the year of £750,001

The core purpose of Service Ceilings Limited trading as SCL Interiors (SCL) is to provide specialist fit out and drylining services and SFS. The company looks to maintain its position in the marketplace by offering reliable, responsive and competitive services which exceed the needs and expectations of its customers.

Objectives

The director's aim is to maintain the successful aspects of the business which have served them and the company's customers over numerous years of consistent trading.

The development of further relationships within the supply chain and the retention of key workers throughout all levels of the business is also within aspirations.

Operational efficiency where possible will be made to the benefit of all for a quality delivery and client satisfaction.

Principal risks and uncertainties

Market forces and macro-economic circumstances are always under review to enable the company to maintain its position within the industry and being able to offer its customers certainty and confidence in the delivery of projects by being competitive in conjunction with sustainable pricing.

Credit risk

All projects are constantly reviewed to ensure they are delivered to projected outcomes which are sustainable within the business model. Any credit allowed within contractual relationships is monitored. The Directors acknowledge that in the current economic climate the risk of bad debt has increased and ergo will remain vigilant to ensure payments are received on time and that over exposure to any one customer is mitigated.

Liquidity risk

The directors have reviewed the operational finance aspects of the business and are satisfied that sufficient resources are available to meet all obligations and commitments.

Future plans

The directors look to maintain the business within its place in the market whilst being able to be in such a position to take opportunities that may arise to achieve sustainable growth by having a responsive reciprocal dialogue with both its customers and its supply chain.

ON BEHALF OF THE BOARD:

A J Nurse - Director

13 July 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of specialists in suspended ceilings, partitioning, drylining and steel framing solutions.

DIVIDENDS

During the year the company paid dividends amounting to £750,001 (2025 - £750,000).

DIRECTORS

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

A J Nurse

Mrs M C Nurse

A T Nurse

P A J Baker

DISCLOSURE IN THE STRATEGIC REPORT

In accordance with Section 414C(11) of the Companies Act 2006 other matters, normally included within this report, are set out in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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

In accordance with Section 487(2) of the Companies Act 2006 the auditors, Wheelers, are deemed to have been re-appointed.

ON BEHALF OF THE BOARD:

A J Nurse - Director

13 July 2026

Opinion

We have audited the financial statements of Service Ceilings Limited (the 'company') for the year ended 31 March 2026 which comprise the Statement of Income and Retained Earnings, Balance Sheet, 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 31 March 2026 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.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The primary responsibility for the prevention and detection of fraud rests with the directors.

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are:

- Those that relate to the reporting framework (United Kingdom Accounting Standards in conformity with the

Companies Act 2006 and FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland").

- Relevant tax compliance regulations in the United Kingdom.

- In addition, we concluded that there are certain laws and regulations that may have an effect on the determination of the amounts and disclosures in the financial statements; and

- Laws and regulations relating to health and safety, employee matters and the environment.

We understood how the company is complying with those frameworks by making enquiries of management, those

responsible for legal and compliance procedures and the Company Secretary. We corroborated our enquiries through our review of Board minutes.

We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussion with management and our prior knowledge of the company's activities and controls. We have carried out procedures including a review of journal entries and a review of accounting estimates and judgements which were designed to provide reasonable assurance that the financial statements are free from fraud or error.

Based on this understanding we designed audit procedures to identify non-compliance with such laws and regulations.

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.

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.

Robert Booty ACA FCCA CTA (Senior Statutory Auditor)

for and on behalf of Wheelers

Chartered Accountants, Tax Consultants

& Statutory Auditors

27-29 Old Market

Wisbech

Cambridgeshire

PE13 1NE

13 July 2026

TURNOVER

17,677,651

16,332,196

Cost of sales

12,452,320

11,559,005

GROSS PROFIT

5,225,331

4,773,191

Administrative expenses

3,397,160

3,186,122

1,828,171

1,587,069

Other operating income

3

40,483

66,085

OPERATING PROFIT

6

1,868,654

1,653,154

Interest receivable and similar income

40,995

30,472

Interest payable and similar expenses

7

(106,695

)

(112,004

)

PROFIT BEFORE TAXATION

1,802,954

1,571,622

Tax on profit

8

480,226

414,014

PROFIT FOR THE FINANCIAL YEAR

1,322,728

1,157,608

Retained earnings at beginning of year

3,552,554

3,144,946

Dividends

9

(750,001

)

(750,000

)

RETAINED EARNINGS AT END OF YEAR

4,125,281

3,552,554

FIXED ASSETS

Intangible assets

10

33,535

33,535

Tangible assets

11

660,654

664,050

Investments

12

17,000

-

711,189

697,585

CURRENT ASSETS

Stocks

13

20,000

20,000

Debtors

14

5,941,620

3,292,143

Cash at bank and in hand

3,376,401

5,089,441

9,338,021

8,401,584

CREDITORS

Amounts falling due within one year

15

5,664,581

5,231,050

NET CURRENT ASSETS

3,673,440

3,170,534

TOTAL ASSETS LESS CURRENT LIABILITIES

4,384,629

3,868,119

CREDITORS

Amounts falling due after more than one year

16

(158,448

)

(182,065

)

PROVISIONS FOR LIABILITIES

20

(95,900

)

(128,500

)

NET ASSETS

4,130,281

3,557,554

CAPITAL AND RESERVES

Called up share capital

21

5,000

5,000

Retained earnings

22

4,125,281

3,552,554

SHAREHOLDERS' FUNDS

4,130,281

3,557,554

The financial statements were approved by the Board of Directors and authorised for issue on 13 July 2026 and were signed on its behalf by:

A J Nurse - Director

Cash flows from operating activities

Cash generated from operations

1

438,416

2,365,888

Interest paid

(81,955

)

(88,401

)

Interest element of hire purchase payments paid

(24,740

)

(23,603

)

Tax paid

(715,920

)

(204,583

)

Net cash from operating activities

(384,199

)

2,049,301

Cash flows from investing activities

Purchase of intangible fixed assets

-

(33,535

)

Purchase of tangible fixed assets

(16,307

)

(22,409

)

Purchase of fixed asset investments

(17,000

)

-

Sale of tangible fixed assets

13,000

64,088

Interest received

40,995

30,472

Net cash from investing activities

20,688

38,616

Cash flows from financing activities

Loan repayments in year

(156,250

)

(312,500

)

Capital repayments in year

(193,278

)

(182,909

)

Equity dividends paid

(1,000,001

)

(250,000

)

Net cash from financing activities

(1,349,529

)

(745,409

)

(Decrease)/increase in cash and cash equivalents

(1,713,040

)

1,342,508

Cash and cash equivalents at beginning of year

2

5,089,441

3,746,933

Cash and cash equivalents at end of year

2

3,376,401

5,089,441

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

31.3.26

31.3.25

£

£

Profit before taxation

1,802,954

1,571,622

Depreciation charges

169,490

165,750

Loss on disposal of fixed assets

2,512

3,001

Finance costs

106,695

112,004

Finance income

(40,995

)

(30,472

)

2,040,656

1,821,905

(Increase)/decrease in trade and other debtors

(2,649,477

)

1,551,004

Increase/(decrease) in trade and other creditors

1,047,237

(1,007,021

)

Cash generated from operations

438,416

2,365,888

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 31 March 2026

31.3.26

1.4.25

£

£

Cash and cash equivalents

3,376,401

5,089,441

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

5,089,441

3,746,933

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.25

Cash flow

At 31.3.26

£

£

£

Net cash

Cash at bank and in hand

5,089,441

(1,713,040

)

3,376,401

5,089,441

(1,713,040

)

3,376,401

Debt

Finance leases

(333,767

)

27,979

(305,788

)

Debts falling due within 1 year

(156,250

)

156,250

-

(490,017

)

184,229

(305,788

)

Total

4,599,424

(1,528,811

)

3,070,613

1.	STATEMENT OF COMPLIANCE

Service Ceilings Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and key sources of estimation uncertainty

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements:

Recoverability of long term contract balances

The recoverability of trade and contract receivables is regularly reviewed in the light of available economic information specific to each receivable and provisions are recognised for balances considered to be irrecoverable.

Revenue and profit recognition

The estimation techniques used for revenue and profit recognition in respect of the company's long term contracts requires forecasts to be made of the outcome which includes assessments and judgements to be made on the recovery of changes in scope of work, contract programmes, maintenance and defects liabilities and changes in costs.

Revenue recognition

Turnover represents the sales value of goods and services supplied, excluding value added tax, adjusted for ongoing contracts where a right to consideration exists.

Amounts recoverable on contracts are included in debtors and stated at cost, plus attributable profit to the extent that it is reasonably certain after making provisions for contingencies, any losses incurred or foreseen in bringing contracts to completion, and less amounts received as progress payments. Cost for this purpose includes the cost of materials and all overheads other than those relating to the general administration of the company. For any contracts where receipts exceed the sales value of goods and services supplied, the excess is included in creditors as payments on account.

Intangible assets

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

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, except for freehold land and investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Short leasehold

- 4% straight line

Tools and equipment

- 15% reducing balance

Motor vehicles

- 25% reducing balance

Office equipment

- 15% reducing balance

Depreciation is provided when the assets are available for use.

The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable, and are written down immediately to their recoverable amount.

Useful lives and residual values are reviewed annually and where adjustments are required, these are made accordingly.

Stocks and work in progress

Stocks and work in progress are stated at the lower of cost and net realisable value, after making allowance for obsolete and slow moving items.

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.

Leasing and hire purchase commitments

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful lives. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the statement of comprehensive income so as to achieve a constant rate of interest on the remaining balance of the liability.

Rentals payable under operating leases are charged in the statement of comprehensive income on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.

Pensions

The company operates defined contribution pension schemes for both the directors of the company and other employees. The assets of these schemes are held separately from those of the company in independently administered funds. Contributions are recognised in the statement of comprehensive income in the year in which they become payable.

Impairment of non-financial assets

The company assesses at each reporting date whether an asset may be impaired. If any such indication exists the company estimates the recoverable amount of the asset. If it is not possible to estimate the recoverable amount of the individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

The recoverable amount of an asset or cash generating unit is the higher of its fair value less costs to sell and its value in use. If the recoverable amount is less than its carrying amount, the carrying amount of the asset is impaired and it is reduced to its recoverable amount through an impairment in the statement of comprehensive income unless the asset is carried at a revalued amount where the impairment loss of the revalued asset is a revaluation decrease.

An impairment loss recognised for all assets is reversed in a subsequent period if and only if the reasons for the impairment loss have ceased to apply.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short term deposits with an original maturity date of three months or less. For the purposes of the cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income in other operating expenses.

Interest-bearing loans and borrowings

All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. The effective interest rate amortisation is included in finance revenue in the statement of comprehensive income.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement. The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, including trade and other debtors, trade and other creditors, cash and bank balances at the transaction price.

3.	OTHER OPERATING INCOME

31.3.26

31.3.25

£

£

Sundry income

228

250

Management charges

20,000

15,000

Other grants

20,255

50,835

40,483

66,085

Other grants relate to income received from the CITB to contribute towards the training of construction workers.

4.	EMPLOYEES AND DIRECTORS

31.3.26

31.3.25

£

£

Wages and salaries

3,538,320

3,595,817

Social security costs

480,780

433,415

Other pension costs

172,534

247,441

4,191,634

4,276,673

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

31.3.26

31.3.25

Staff

58

64

Directors

4

3

62

67

5.	DIRECTORS' EMOLUMENTS

31.3.26

31.3.25

£

£

Directors' remuneration

232,390

232,390

Directors' pension contributions to money purchase schemes

2,050

62,050

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

Money purchase schemes

3

3

Information regarding the highest paid director is as follows:

31.3.26

31.3.25

£

£

Emoluments etc

115,906

115,906

6.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.26

31.3.25

£

£

Hire of plant and machinery

344,434

304,417

Other operating leases

75,000

75,000

Depreciation - owned assets

48,236

45,328

Depreciation - assets on hire purchase contracts

121,254

120,422

Loss on disposal of fixed assets

2,512

3,001

Auditors' remuneration

18,600

21,750

Auditors' remuneration for non audit work

6,565

11,470

Operating lease rentals - plant and machinery

13,923

9,680

Stocks recognised as an expense

5,569,468

4,732,928

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.26

31.3.25

£

£

Bank loan interest

3,467

24,205

Interest on CT

8,492

-

Loan interest

69,996

64,196

Hire purchase interest payable

24,740

23,603

106,695

112,004

8.

TAXATION

Analysis of the tax charge

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

31.3.26

31.3.25

£

£

Current tax:

UK corporation tax

512,826

403,314

Deferred tax

(32,600

)

10,700

Tax on profit

480,226

414,014

UK corporation tax was charged at 25%) in 2025.

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:

31.3.26

31.3.25

£

£

Profit before tax

1,802,954

1,571,622

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

450,739

392,906

Effects of:

Expenses not deductible for tax purposes

29,468

21,126

Deferred tax movement not provided for

19

(18

)

Total tax charge

480,226

414,014

Factors that may affect future tax charges

The company is not aware of any factors that may affect future tax charges other than the change in corporation tax rates.

9.

DIVIDENDS

31.3.26

31.3.25

£

£

Ordinary shares of £1 each

Final

750,001

750,000