REGISTERED NUMBER: 06146312 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2026

FOR

TECHNICA LIMITED

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:

J D Davison

S Vinter

P J Emmett

SECRETARY:

J D Davison

REGISTERED OFFICE:

Cherry Tree Business Park

Estate Road No 5

Grimsby

Lincolnshire

DN31 2TX

REGISTERED NUMBER:

06146312 (England and Wales)

AUDITORS:

Ainsworths Limited

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

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

REVIEW OF BUSINESS

The principal activity of the business during the year was that of engineering design and construction activities for industrial process and production.

An independent company, built from the ground up, with hard working chartered engineers who have managed major multi-million pound projects throughout the world both for the customer and contractor.

Technica is made up of a dedicated and close knit team of multi-disciplinary engineers who come from varied backgrounds including energy, pharmaceutical, petrochemical, industrial and defence. They are led by an experienced leadership team and overseen by Chairman and owner, John Davison who joined the industry as an apprentice over 30 years ago.

The company's key performance indicators during the year were as follows:

2025/26

2024/25

Turnover

£20,275,868

£9,328,858

EBITDA

£3,647,357

£757,471

The directors consider the year to be very good and in line with the company's future strategic plans. The balance sheet has increased significantly and is very strong. The company does not have any external funding requirements or reliance on any external creditors.

The directors are confident in the future outlook of the company.

PRINCIPAL RISKS AND UNCERTAINTIES

The commercial risks and uncertainties faced by the company include the economic climate, government policies, increases in the cost of raw materials, increases in the costs of employment related costs and volatility of energy and transport prices. The directors and wider management team monitors these risks in order to respond and react to changes in the marketplace.

FINANCIAL RISK MANAGEMENT

The company operations expose it to a variety of financial risks that include the effects of credit, currency, interest rate and liquidity risk. The directors actively manage these risks by monitoring levels of risk and related costs of mitigating these.

EMPLOYEES

The directors continue to develop employees using both external and in house resources. The company continues to appraise all systems to actively promote equality, well-being at the workplace, integration of people with different capacities, employee training, professional development and the prevention of occupational risks.

ON BEHALF OF THE BOARD:

J D Davison - Director

16th July 2026

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

DIVIDENDS

An interim dividend of £12,325 per share was paid on 31st March 2026. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31st March 2026 will be £ 2,465,031 .

DIRECTORS

J D Davison has held office during the whole of the period from 1st April 2025 to the date of this report.

Other changes in directors holding office are as follows:

S Vinter - appointed 3rd November 2025

R Law - resigned 3rd November 2025

P J Emmett was appointed as a director after 31st March 2026 but prior to the date of this report.

DONATIONS

During the year the company made donations of £3,207.

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, Ainsworths Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J D Davison - Director

16th July 2026

Opinion

We have audited the financial statements of Technica Limited (the 'company') for the year ended 31st March 2026 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 31st 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 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:

Based on our understanding of the company and the nature of the sector in which it operates, we have identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006 and tax legislation. We have evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to inappropriate journal entries, improper application of revenue cut-off procedure, management bias in accounting estimates and judgements, inappropriate disclosure of related party transactions and improper use of the going concern basis. Our audit procedures designed to address these risks included, but were not limited to:

-

Enquiries with management, regarding any known or suspected instances of non-compliance with laws and regulations, and fraud;

-

Agreement of the financial statement disclosures to the underlying supporting documentation;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud;

-

Challenging assumptions and judgements made by management in particular within their significant accounting estimates and going concern assessments;

-

Revenue year end cut-off procedures;

-

Obtaining an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal controls;

-

Auditing the risk of management override of controls, including through the testing of journal entries and other adjustments for appropriateness.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that 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 by misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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.

Other matter

The prior period financial statements were not audited.

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.

Mark Sunter (Senior Statutory Auditor)

for and on behalf of Ainsworths Limited

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

16th July 2026

TURNOVER

20,275,868

9,328,858

Cost of sales

14,234,648

6,715,775

GROSS PROFIT

6,041,220

2,613,083

Administrative expenses

2,513,379

1,976,283

3,527,841

636,800

Other operating income

27,051

32,287

OPERATING PROFIT

5

3,554,892

669,087

Interest receivable and similar income

-

1

3,554,892

669,088

Interest payable and similar expenses

6

27,403

39,932

PROFIT BEFORE TAXATION

3,527,489

629,156

Tax on profit

7

585,751

13,042

PROFIT FOR THE FINANCIAL YEAR

2,941,738

616,114

PROFIT FOR THE YEAR

2,941,738

616,114

OTHER COMPREHENSIVE INCOME

Revaluation

200,000

-

Income tax relating to other comprehensive income

(50,000

)

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

150,000

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

3,091,738

616,114

FIXED ASSETS

Tangible assets

9

1,453,514

1,117,049

CURRENT ASSETS

Debtors

10

5,223,399

3,689,961

Cash at bank and in hand

4,004,101

586,199

9,227,500

4,276,160

CREDITORS

Amounts falling due within one year

11

7,743,151

2,963,473

NET CURRENT ASSETS

1,484,349

1,312,687

TOTAL ASSETS LESS CURRENT LIABILITIES

2,937,863

2,429,736

CREDITORS

Amounts falling due after more than one year

12

(448,182

)

(600,983

)

PROVISIONS FOR LIABILITIES

16

(137,415

)

(103,194

)

NET ASSETS

2,352,266

1,725,559

CAPITAL AND RESERVES

Called up share capital

17

208

208

Capital redemption reserve

18

100

100

Other reserves

18

292,753

142,753

Retained earnings

18

2,059,205

1,582,498

SHAREHOLDERS' FUNDS

2,352,266

1,725,559

The financial statements were approved by the Board of Directors and authorised for issue on 16th July 2026 and were signed on its behalf by:

J D Davison - Director

Called up

Capital

share

Retained

redemption

Other

Total

capital

earnings

reserve

reserves

equity

£

£

£

£

£

Balance at 1st April 2024

208

1,211,384

100

142,753

1,354,445

Changes in equity

Dividends

-

(245,000

)

-

-

(245,000

)

Total comprehensive income

-

616,114

-

-

616,114

Balance at 31st March 2025

208

1,582,498

100

142,753

1,725,559

Changes in equity

Dividends

-

(2,465,031

)

-

-

(2,465,031

)

Total comprehensive income

-

2,941,738

-

150,000

3,091,738

Balance at 31st March 2026

208

2,059,205

100

292,753

2,352,266

Cash flows from operating activities

Cash generated from operations

1

6,140,962

790,009

Interest paid

(17,890

)

(30,740

)

Interest element of hire purchase payments paid

(9,513

)

(9,192

)

Taxation refund

24,145

187,169

Net cash from operating activities

6,137,704

937,246

Cash flows from investing activities

Purchase of tangible fixed assets

(376,734

)

(337,892

)

Sale of tangible fixed assets

141,062

13,000

Interest received

-

1

Net cash from investing activities

(235,672

)

(324,891

)

Cash flows from financing activities

Movement in HP and loans

(19,099

)

80,783

Equity dividends paid

(2,465,031

)

(245,000

)

Net cash from financing activities

(2,484,130

)

(164,217

)

Increase in cash and cash equivalents

3,417,902

448,138

Cash and cash equivalents at beginning of year

2

586,199

138,061

Cash and cash equivalents at end of year

2

4,004,101

586,199

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

31.3.26

31.3.25

£

£

Profit before taxation

3,527,489

629,156

Depreciation charges

98,005

79,917

Loss on disposal of fixed assets

1,202

8,466

Finance costs

27,403

39,932

Finance income

-

(1

)

3,654,099

757,470

Increase in trade and other debtors

(1,557,583

)

(15,759

)

Increase in trade and other creditors

4,044,446

48,298

Cash generated from operations

6,140,962

790,009

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 31st March 2026

31.3.26

1.4.25

£

£

Cash and cash equivalents

4,004,101

586,199

Year ended 31st March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

586,199

138,061

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

586,199

3,417,902

4,004,101

586,199

3,417,902

4,004,101

Debt

Finance leases

(220,448

)

(95,691

)

(316,139

)

Debts falling due within 1 year

(114,676

)

36,004

(78,672

)

Debts falling due after 1 year

(78,786

)

78,786

-

(413,910

)

19,099

(394,811

)

Total

172,289

3,437,001

3,609,290

1.	STATUTORY INFORMATION

Technica 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.

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 as modified by the revaluation of certain assets.

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.

Turnover

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

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits can be reliably measured, and it is probable that future economic benefits will flow to the entity. For longer term contracts that straddle the company's year end, the amount of revenue recognised is calculated with reference to the stage of completion of the contracts, with any differences in the timing of actual invoicing deferred or accrued in the financial statements. The stage of completion is ascertained by reference to independent certification of work done, or where not available, by reference to the amount of costs incurred on the contracts by the company with reference to the total contract price and budget.

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

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

33% on cost and 25% on cost

Computer equipment

-

33% on cost

Tangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less any accumulated depreciation.

Government grants

The company receives government grants in respect of apprenticeships. These grants are recognised based on the amount received or receivable when there is a reasonable assurance that the company will comply with conditions attaching to them.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 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 profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments

The limited company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from and to related parties and bank loans.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and bank deposits.

Trade debtors

Trade debtors are amounts due for goods sold or services rendered in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are classified as current liabilities of the company does not have an unconditional right, at the end of the reporting date, to defer settlement of the creditor for at least twelve months after the reporting date.If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using effective interest method.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Land and buildings

Land and buildings are revalued annually and any surplus or deficit is dealt with via the non-distributable reserve. No depreciation is provided in respect of land and buildings.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The Company makes estimates and assumptions concerning the future. Management are also required to exercise judgement in the process of applying the Company's accounting policies. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The estimates and assumptions that have an increased risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

In preparing these financial statements, the directors have made the following judgements:

Depreciation and residual values

The directors have reviewed the asset lives and associated residual values of all tangible fixed asset classes and have concluded that asset lives and residual values are appropriate.

The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and

projected disposal values.

Recoverability of trade debtors

Trade and other debtors are recognised to the extent that they are judged recoverable. Management reviews are performed to estimate the level of reserves required for irrecoverable debt. Provisions are made specifically against invoices where recoverability is considered to be uncertain.

Management makes allowance for doubtful debts based on an assessment of the recoverability of debtors. Allowances are applied to debtors where events or changes in circumstances indicate that the carrying amounts may not be recoverable. Management specifically analyse historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when making a judgement to evaluate the adequacy of the provision for doubtful debts. Where the expectation is different from the original estimate, such difference will impact the carrying value of debtors and the charge in the profit and loss account.

Taxation

There are many transactions and calculations for which the ultimate tax determination is uncertain. The Company recognises liabilities for anticipated tax issues based on estimates of whether additional taxes will be due.

Management estimation is required to determine the amount of deferred tax assets that can be recognised, based upon likely timing and level of future taxable profits together with an assessment of the effect of future tax planning strategies.

Provisions

A provision is recognised when the Company has a present legal or constructive obligation as a result of a past event for which it is probable that an outflow of resources will be required to settle the obligation and the amount can be reliably estimated. If the effect is material, provisions are determined by discounting the expected future cash flow at a rate that reflects the time value of money and the risks specific to the liability.

4.	EMPLOYEES AND DIRECTORS

31.3.26

31.3.25

£

£

Wages and salaries

3,580,313

3,095,932

Social security costs

404,096

354,261

Other pension costs

313,754

100,088

4,298,163

3,550,281

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

31.3.26

31.3.25

Directors

2

2

Employees

67

58

69

60

31.3.26

31.3.25

£

£

Directors' remuneration

178,660

263,357

Directors' pension contributions to money purchase schemes

138,043

7,433

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

Money purchase schemes

2

1

5.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.26

31.3.25

£

£

Hire of plant and machinery

91,452

53,721

Other operating leases

9,993

38,055

Depreciation - owned assets

69,863

65,104

Depreciation - assets on hire purchase contracts

28,142

14,813

Loss on disposal of fixed assets

1,202

8,466

Auditors' remuneration

12,500

-

Foreign exchange differences

101

160

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.26

31.3.25

£

£

Bank loan interest

10,803

19,899

Other interest

7,087

10,841

Hire purchase

9,513

9,192

27,403

39,932