REGISTERED NUMBER: 16039016 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD

24 OCTOBER 2024 TO 31 OCTOBER 2025

FOR

ES HOLDCO LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

17

DIRECTORS:

C H O'Donoghue

E R O'Donoghue

L P O'Donoghue

REGISTERED OFFICE:

12-13 Saxon House Warley Street

Upminster

Essex

RM14 3PJ

REGISTERED NUMBER:

16039016 (England and Wales)

AUDITORS:

Clemence Hoar Cummings

Chartered Accountants and Statutory Auditor

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

The directors present their strategic report of the company and the group for the period 24 October 2024 to 31 October 2025.

REVIEW OF BUSINESS

The group continues to prioritise mechanical and electrical maintenance and project services, supporting a broad client base across both commercial and residential sectors within Central and Greater London.

This year represents the first full financial period following the formation of the parent company and the transfer of shares. Turnover for the year amounted to £24.9m, reflecting strong contract retention, the award of new maintenance agreements, and continued demand for planned preventative maintenance services across multiple industries. The level of turnover achieved demonstrates the underlying strength of the Group's operations and management's continued focus on expanding market share and improving client retention.

The gross profit margin was 27%, a slight decrease compared with the prior year margin of 28% before the formation of the parent company. The reduction primarily reflects the strategic appointment of key personnel, ongoing investment in smart building technology, and enhancements to the Group's ESG strategy. These initiatives are intended to strengthen the service offering and support sustainable long term growth.

The directors note that while revenue growth was robust, operating margins were affected by cost inflation across several inputs, particularly during peak demand periods. In response, the group is implementing a range of mitigation measures, including supplier negotiations and a comprehensive pricing strategy review.

The net profit margin for the year was 6%, reflecting the margin pressures outlined above, together with a measured increase in administrative overheads. These costs were largely attributable to investment in IT systems and staffing, both essential to scaling operations and improving service delivery.

The group remains in a strong financial position, maintaining a prudent approach to cash management and capital expenditure. Leadership is committed to driving operational efficiency and sustaining profitability in a competitive, cost-sensitive market.

The directors consider the results for the year to be satisfactory and are confident in the group's ability to deliver continued progress in the forthcoming financial year.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have identified the following principal risks and uncertainties that could impact the group's future performance:

Cost Inflation: The group is exposed to fluctuations in the cost of materials, parts, and subcontractor services, which could compress profit margins if not managed effectively.

Competitive Market: The air-conditioning maintenance sector is competitive, with pricing pressures potentially impacting revenue growth and profitability.

Operational Capacity: Dependence on skilled technicians means that difficulties in recruitment or retention could affect the group's ability to meet customer demand and maintain service levels.

Regulatory Compliance: Changes in health and safety or environmental regulations may require operational adjustments, potentially increasing compliance costs.

Economic Conditions: Broader economic downturns could reduce demand for maintenance services as clients delay non-essential expenditure.

The directors continuously monitor these risks and maintain policies and controls to mitigate their impact, including cost management initiatives, staff development programmes, and ongoing regulatory review.

FINANCIAL KEY PERFORMANCE INDICATORS

The directors monitor the performance of the group using a limited set of key performance indicators (KPIs) which they consider most relevant to assessing business performance and strategic progress. The principal KPIs for the year under review are as follows and have been discussed in detail above:

Turnover

Net profit

These KPIs are reviewed regularly by the board to assess operational effectiveness, financial health, and to guide strategic decision-making. The directors also consider additional qualitative factors, including customer satisfaction and service quality, in evaluating overall group performance.

ON BEHALF OF THE BOARD:

L P O'Donoghue - Director

30 April 2026

The directors present their report with the financial statements of the company and the group for the period 24 October 2024 to 31 October 2025.

INCORPORATION

The group was incorporated on 24 October 2024 and commenced trading on the same date.

DIVIDENDS

An interim dividend of 62.399 per share was paid on 31 October 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 31 October 2025 will be £ 623,990 .

DIRECTORS

The directors who have held office during the period from 24 October 2024 to the date of this report are as follows:

C H O'Donoghue - appointed 24 October 2024

E R O'Donoghue - appointed 24 October 2024

L P O'Donoghue - appointed 24 October 2024

All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

L P O'Donoghue - Director

30 April 2026

Opinion

We have audited the financial statements of ES Holdco Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 October 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 October 2025 and of the group's profit for the period 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 group's and the parent 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 group or the parent 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory frameworks applicable to the company and determined those laws and regulations that were considered to have a direct effect on the financial statements, including the Companies Act 2006 and relevant tax legislation;

- We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur, by making enquiries of management and those charged with governance, and by considering known or suspected instances of non-compliance with laws and regulations;

- We evaluated management’s controls, policies and procedures for the identification, evaluation and compliance with laws and regulations, and considered whether appropriate matters had been communicated to those charged with governance; and

- We considered the results of our audit procedures and evaluated whether any matters identified during the audit indicated the possibility of irregularities, including fraud, impacting the financial statements.

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.

David Bransbury FCA (Senior Statutory Auditor)

for and on behalf of Clemence Hoar Cummings

Chartered Accountants and Statutory Auditor

Riverside House

1-5 Como Street

Romford

Essex

RM7 7DN

30 April 2026

TURNOVER

24,956,005

Cost of sales

18,171,883

GROSS PROFIT

6,784,122

Administrative expenses

5,781,557

OPERATING PROFIT

4

1,002,565

Interest payable and similar expenses

5

112,275

PROFIT BEFORE TAXATION

890,290

Tax on profit

6

563,158

PROFIT FOR THE FINANCIAL PERIOD

327,132

Profit attributable to:

Owners of the parent

327,132

PROFIT FOR THE PERIOD

327,132

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

327,132

Total comprehensive income attributable to:

Owners of the parent

327,132

FIXED ASSETS

Intangible assets

9

11,632,378

Tangible assets

10

850,855

Investments

11

1,900

12,485,133

CURRENT ASSETS

Debtors

12

4,528,262

Cash at bank and in hand

1,704,094

6,232,356

CREDITORS

Amounts falling due within one year

13

4,283,741

NET CURRENT ASSETS

1,948,615

TOTAL ASSETS LESS CURRENT LIABILITIES

14,433,748

CREDITORS

Amounts falling due after more than one year

14

(1,192,477

)

PROVISIONS FOR LIABILITIES

17

(98,129

)

NET ASSETS

13,143,142

CAPITAL AND RESERVES

Called up share capital

18

10,000

Share premium

19

13,430,000

Retained earnings

19

(296,858

)

SHAREHOLDERS' FUNDS

13,143,142

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

L P O'Donoghue - Director

FIXED ASSETS

Intangible assets

9

-

Tangible assets

10

-

Investments

11

13,440,000

13,440,000

TOTAL ASSETS LESS CURRENT LIABILITIES

13,440,000

CAPITAL AND RESERVES

Called up share capital

18

10,000

Share premium

19

13,430,000

SHAREHOLDERS' FUNDS

13,440,000

Company's profit for the financial year

623,990

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2026 and were signed on its behalf by:

L P O'Donoghue - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Changes in equity

Issue of share capital

10,000

-

13,430,000

13,440,000

Dividends

-

(623,990

)

-

(623,990

)

Total comprehensive income

-

327,132

-

327,132

Balance at 31 October 2025

10,000

(296,858

)

13,430,000

13,143,142

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Changes in equity

Issue of share capital

10,000

-

13,430,000

13,440,000

Dividends

-

(623,990

)

-

(623,990

)

Total comprehensive income

-

623,990

-

623,990

Balance at 31 October 2025

10,000

-

13,430,000

13,440,000

Cash flows from operating activities

Cash generated from operations

1

1,526,117

Interest paid

(70,309

)

Interest element of hire purchase or finance lease rental payments paid

(10,037

)

Finance costs paid

(31,929

)

Tax paid

(314,169

)

Net cash from operating activities

1,099,673

Cash flows from investing activities

Purchase of tangible fixed assets

(92,073

)

Sale of tangible fixed assets

14,167

Net cash from investing activities

(77,906

)

Cash flows from financing activities

New loans in year

2,150,000

Loan repayments in year

(499,650

)

Cash & cash equivalents at consolidation

(330,549

)

Capital repayments in year

(13,484

)

Equity dividends paid

(623,990

)

Net cash from financing activities

682,327

Increase in cash and cash equivalents

1,704,094

Cash and cash equivalents at beginning of period

2

-

Cash and cash equivalents at end of period

2

1,704,094

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

£

Profit before taxation

890,290

Depreciation charges

1,530,484

Profit on disposal of fixed assets

(1,897

)

Finance costs

112,275

2,531,152

Increase in trade and other debtors

(4,528,262

)

Increase in trade and other creditors

3,523,227

Cash generated from operations

1,526,117

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:

Period ended 31 October 2025

31.10.25

24.10.24

£

£

Cash and cash equivalents

1,704,094

-

This is the Group’s first year of consolidation. Accordingly, the consolidated cash flow statement includes only cash flows arising during the period after the subsidiary became a member of the Group. Cash and cash equivalents held by the subsidiary prior to the date of consolidation are treated as opening Group cash balances and do not represent cash flows of the period.

As a result, the net movement in cash and cash equivalents shown in the consolidated cash flow statement does not directly reconcile to the change in cash and cash equivalents between the opening and closing consolidated balance sheets. The difference reflects cash balances held by the subsidiary at the date it joined the Group, rather than cash movements generated by the Group during the period.

Cash and cash equivalents comprise cash at bank and in hand. Bank overdrafts repayable on demand are included within cash and cash equivalents where applicable.

3.	ANALYSIS OF CHANGES IN NET DEBT

At 24.10.24

Cash flow

At 31.10.25

£

£

£

Net cash

Cash at bank and in hand

-

1,704,094

1,704,094

-

1,704,094

1,704,094

Debt

Debts falling due within 1 year

-

(457,873

)

(457,873

)

Debts falling due after 1 year

-

(1,192,477

)

(1,192,477

)

-

(1,650,350

)

(1,650,350

)

Total

-

53,744

53,744

1.	STATUTORY INFORMATION

ES Holdco 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 General 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.

Turnover

Turnover represents the fair value of consideration receivable for services provided in the ordinary course of business, net of VAT and discounts.

The company generates revenue from the following principal sources:

Service contracts

Revenue arising from service contracts is recognised over time as the services are provided, as the customer simultaneously receives and consumes the benefits of the services performed. Revenue is recognised on a straight line basis or by reference to the stage of completion of the contract at the reporting date, where this faithfully depicts the transfer of services to the customer.

Where services have been performed but not yet billed at the reporting date, accrued income is recognised. Where invoices have been raised in advance of the related services being performed, the invoiced amount is deferred and recognised as deferred income.

Quoted works

Revenue from quoted works is recognised at the point in time when the service has been completed and control has transferred to the customer, which is typically when the work is performed and the customer is invoiced.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its

estimated useful life or, if held under a finance lease, over the lease term, whichever is the

shorter.

Improvements to property - 10% on cost

Fixtures and fittings - 15% on reducing balance

Motor vehicles - 25% on cost

Freehold property is valued using the cost model and is therefore held at cost less accumulated depreciation (for the building component) and impairment losses. The land is not subject to depreciation due to its indefinite useful life, while the buildings are depreciated over the following estimated useful life:

Freehold property - 50 years

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 period 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.

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 group 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.

3.	EMPLOYEES AND DIRECTORS

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

2025

Director

2

Employees

125

127

£

Directors' remuneration

338,224

Information regarding the highest paid director is as follows:

£

Emoluments etc

244,024

4.	OPERATING PROFIT

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

£

Hire of plant and machinery

49,005

Depreciation - owned assets

237,998

Profit on disposal of fixed assets

(1,897

)

Goodwill amortisation

1,292,487

Auditors remuneration

12,000

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

£

Bank loan interest

70,309

Hire purchase

10,037

Interest on late payment - tax

31,929

112,275

6.

TAXATION

Analysis of the tax charge

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

£

Current tax:

UK corporation tax

616,810

Deferred taxation

(53,652

)

Tax on profit

563,158

Reconciliation of total tax charge included in profit and loss

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

£

Profit before tax

890,290

Profit multiplied by the standard rate of corporation tax in the UK of 25 %

222,573

Effects of:

Expenses not deductible for tax purposes

18,592

Income not taxable for tax purposes

(474

)

Depreciation in excess of capital allowances

52,997

Deferred tax movement

(53,652

)

Amortisation of goodwill

323,122

Total tax charge

563,158

7.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

8.

DIVIDENDS

£

Ordinary shares of 1 each

Interim

623,990

9.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

Additions

12,924,865

At 31 October 2025

12,924,865

AMORTISATION

Amortisation for period

1,292,487

At 31 October 2025

1,292,487

NET BOOK VALUE

At 31 October 2025

11,632,378

10.	TANGIBLE FIXED ASSETS

Group

Improvements

Fixtures

Freehold

to

and

Motor

property

property

fittings

vehicles

Totals

£

£

£

£

£

COST

At 24 October 2024

487,558

25,117

406,161

891,027

1,809,863

Additions

-

-

21,087

70,986

92,073

Disposals

-

-

-

(40,798

)

(40,798

)

At 31 October 2025

487,558

25,117

427,248

921,215

1,861,138

DEPRECIATION

At 24 October 2024

96,673

25,117

263,195

415,828

800,813

Charge for period

9,652

-

23,328

205,018

237,998

Eliminated on disposal

-

-

-

(28,528

)

(28,528

)

At 31 October 2025

106,325

25,117

286,523

592,318

1,010,283

NET BOOK VALUE

At 31 October 2025

381,233

-

140,725

328,897

850,855

At 23 October 2024

390,885

-

142,966

475,199

1,009,050