REGISTERED NUMBER: 00745097 (England)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

REDMAYNE ENGINEERING LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

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:

Mr K Spurway

Mr G W Harvey

Mr N F Smith

REGISTERED OFFICE:

Laurence Walter House

Addison Road

Chilton Industrial Estate

Sudbury

Suffolk

CO10 2YW

REGISTERED NUMBER:

00745097 (England)

SENIOR STATUTORY AUDITOR:

Mr Adam Moody FCCA

AUDITORS:

Xeinadin Audit Limited

Statutory Auditor

Maple House, Level 5A

149 Tottenham Court Road

London

W1T 7NF

The directors present their strategic report for the year ended 31 October 2025.

REVIEW OF BUSINESS

The company's turnover increased by 18% to £11.7M (2024: £9.9M), with gross margin increased to 50% (2024: 45%). Operating profit for the year was £2.7M (2024: £1.7M).

The state of affairs at the balance sheet date is considered to be satisfactory with net assets of £6.61M (2024: £4.58M).

The key financial performance indicators for the company are as follows:

KPI

2025

2024

Measure

Gross Profit Margin

50%

45%

Gross Profit/Turnover

Debtors days

100 days

87 days

Trade Debtors/Turnover

Creditors days

44 days

63 days

Trade Creditors/Cost of Sales

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties affecting the business include:

- Retention of customers - the company maintains strong relationships with each of its key customers and has established procedures for monitoring performance and service levels.

- Competitive risk - the company offers a range of products and services to meet the demands of its customer base.

- Market conditions - the company's ability to adapt quickly to changes in the marketplace, mitigates the risk of this area.

- Exchange rate risk - the company trades in sterling and maintains its banking and financing in sterling. It has some exchange risk on imports from the EU, but this is not significant. The directors monitor trading and exposure to such risk and takes action as and when needed to hedge any significant risk that may arise.

- Resources risk - the directors believe that the company has adequate financial resources in place to meet its forecast trading requirements and all risks and uncertainties are managed appropriately.

FUTURE DEVELOPMENTS

The company will continue to expand its product range whilst concentrating on products and services that deliver acceptable margins.

The directors are confident of delivering sustainable future growth in its sector.

EMPLOYEES

The company operates an equal opportunities policy. The aim of this policy is to ensure that there should be equal opportunity for all and this applies to external recruitment, internal appointments, terms of employment, conditions of service and opportunity for training and promotion regardless of gender, ethnic origin or disability.

Disabled persons are given full and fair consideration for all types of vacancy in as much as the opportunities available are constrained by the practical limitations of the disability. Should, for whatever reason, an employee of the company become disabled whilst in our employment, every step, where appropriate, will be taken to assist with rehabilitation and suitable re-training.

The company maintains its own health, safety and environmental policies covering all aspect of its operations. Regular meetings and inspections take place to ensure all legal requirements are adhered to and that the company is responsive to the needs of the employees and the environment.

FINANCIAL INSTRUMENTS

The company has banking facilities in place with NatWest Bank.

The company has not entered into any hedging arrangements as the directors perceive the exchange rate risk to the business to be low. There are accounting adjustments in the accounts in relation to the translation of currency balances at the period end.

ON BEHALF OF THE BOARD:

Mr G W Harvey - Director

17 July 2026

The directors present their report with the financial statements of the company for the year ended 31 October 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of manufacturing of components and sub-assemblies in the aerospace industry.

DIVIDENDS

No dividends will be distributed for the year ended 31 October 2025.

DIRECTORS

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

Mr K Spurway

Mr G W Harvey

Mr N F Smith

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.

ON BEHALF OF THE BOARD:

Mr G W Harvey - Director

17 July 2026

Opinion

We have audited the financial statements of Redmayne Engineering Limited (the 'company') for the year ended 31 October 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 October 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, employment, and health and safety legislation;

We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual,suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

To address the risk that revenue could be misstated due to fraud, we:

- obtained an understanding of the company's revenue recognition policies and compared these to the accounting standard;

- performed a walkthrough to confirm our understanding of the processes and controls through which the business initiates, records, processes and reports revenue transactions;

- tested a sample of revenue transactions to supporting evidence; and

- tested, on a sample basis, revenue related balances in the balance sheet.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators where appropriate.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

Mr Adam Moody FCCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Statutory Auditor

Maple House, Level 5A

149 Tottenham Court Road

London

W1T 7NF

17 July 2026

TURNOVER

5

11,651,918

9,881,173

Cost of sales

(5,804,441

)

(5,437,068

)

GROSS PROFIT

5,847,477

4,444,105

Administrative expenses

(3,119,440

)

(2,753,121

)

OPERATING PROFIT

7

2,728,037

1,690,984

Interest payable and similar expenses

8

(38,300

)

(23,589

)

PROFIT BEFORE TAXATION

2,689,737

1,667,395

Tax on profit

9

(652,729

)

(394,214

)

PROFIT FOR THE FINANCIAL YEAR

2,037,008

1,273,181

PROFIT FOR THE YEAR

2,037,008

1,273,181

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,037,008

1,273,181

FIXED ASSETS

Intangible assets

10

141,277

102,974

Tangible assets

11

1,588,761

903,585

1,730,038

1,006,559

CURRENT ASSETS

Stocks

12

5,062,747

4,248,581

Debtors

13

3,608,499

2,836,151

Cash at bank and in hand

1,227,539

1,127,446

9,898,785

8,212,178

CREDITORS

Amounts falling due within one year

14

3,886,242

4,253,578

NET CURRENT ASSETS

6,012,543

3,958,600

TOTAL ASSETS LESS CURRENT LIABILITIES

7,742,581

4,965,159

CREDITORS

Amounts falling due after more than one year

15

(734,310

)

(167,919

)

PROVISIONS FOR LIABILITIES

18

(388,825

)

(214,802

)

NET ASSETS

6,619,446

4,582,438

CAPITAL AND RESERVES

Called up share capital

19

213

213

Share premium

20

107

107

Retained earnings

20

6,619,126

4,582,118

SHAREHOLDERS' FUNDS

6,619,446

4,582,438

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2026 and were signed on its behalf by:

Mr G W Harvey - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 November 2023

213

3,308,937

107

3,309,257

Changes in equity

Total comprehensive income

-

1,273,181

-

1,273,181

Balance at 31 October 2024

213

4,582,118

107

4,582,438

Changes in equity

Total comprehensive income

-

2,037,008

-

2,037,008

Balance at 31 October 2025

213

6,619,126

107

6,619,446

Cash flows from operating activities

Cash generated from operations

1

1,324,162

1,672,405

Interest element of hire purchase payments paid

(38,300

)

(23,589

)

Tax paid

(386,994

)

(119,575

)

Net cash from operating activities

898,868

1,529,241

Cash flows from investing activities

Purchase of intangible fixed assets

(38,303

)

(36,128

)

Purchase of tangible fixed assets

(906,197

)

(219,292

)

Sale of tangible fixed assets

4,500

-

Net cash from investing activities

(940,000

)

(255,420

)

Cash flows from financing activities

Group loan repayments in year

(570,688

)

(525,413

)

Hire purchase repayments in year

711,913

(20,810

)

Net cash from financing activities

141,225

(546,223

)

Increase in cash and cash equivalents

100,093

727,598

Cash and cash equivalents at beginning of year

2

1,127,446

399,848

Cash and cash equivalents at end of year

2

1,227,539

1,127,446

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

2025

2024

£

£

Profit before taxation

2,689,737

1,667,395

Depreciation charges

221,021

200,559

Profit on disposal of fixed assets

(4,500

)

-

Finance costs

38,300

23,589

2,944,558

1,891,543

Increase in stocks

(814,166

)

(404,445

)

Increase in trade and other debtors

(792,117

)

(387,577

)

(Decrease)/increase in trade and other creditors

(14,113

)

572,884

Cash generated from operations

1,324,162

1,672,405

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 October 2025

31.10.25

1.11.24

£

£

Cash and cash equivalents

1,227,539

1,127,446

Year ended 31 October 2024

31.10.24

1.11.23

£

£

Cash and cash equivalents

1,127,446

399,848

3.	ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1.11.24

Cash flow

At 31.10.25

£

£

£

Net cash

Cash at bank and in hand

1,127,446

100,093

1,227,539

1,127,446

100,093

1,227,539

Debt

Finance leases

(301,588

)

(711,913

)

(1,013,501

)

(301,588

)

(711,913

)

(1,013,501

)

Total

825,858

(611,820

)

214,038

1.	STATUTORY INFORMATION

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

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

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible assets

Development expenditure that relates to clearly defined projects where the costs can be separately identified are capitalised in the balance sheet. These costs are amortised, once the associated products are in commercial production or have been brought into use, over their estimated useful lives, usually 7 years.

Research and development expenditure not linked to a clearly defined project is written off to the profit and loss account in the year incurred.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. The company assesses at each reporting date whether tangible fixed assets are fully impaired.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter:

Plant and machinery

10% straight line

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow moving stock where appropriate.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow Group companies are initially recognised at transaction price.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Hire purchase and leasing commitments

Assets that are held by company under leases which transfer to the company substantially all the risks and rewards of ownership are classified as being held under finance leases. Leases which do not transfer substantially all the risks and rewards of ownership to the company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the company's policy on borrowing costs (see the accounting policy above). Contingent rentals are recognised as expenses in the periods in which they are incurred.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognised as an expense in the period in which they are incurred.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

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.

Related parties

For the purposes of these financial statements, a party is considered to be related to the company if:

(i)the party has the ability, directly or indirectly, through one or more intermediaries, to control the company or exercise significant influence over the company in making financial and operating policy decisions, or has joint control over the company;

(ii)the company and the party are subject to common control;

(iii)the party is an associate of the company or a joint venture in which the company is a venturer;

(iv)the party is a member of key management personnel of the company or the company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

(v)the party is a close family member of a party referred to in (i) or is an entity under the control, joint control or significant influence of such individuals;

(vi)the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company; or

(vii)the party, or any member of a group of which it is part, provides key management personnel services to the company or its parent.

Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity.

4.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

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

- assessing the useful economic lives attributed to tangible fixed assets used to determine the annual depreciation charge,

- the provision required for any bad or doubtful debts,

- any provision for slow moving or obsolete stock.

5.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

11,651,918

9,881,173

11,651,918

9,881,173

6.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,069,804

2,757,200

Social security costs

375,261

291,165

Other pension costs

306,984

260,627

3,752,049

3,308,992

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

2025

2024

Production and distribution

54

47

Administration and management

14

14

68

61

2025

2024

£

£

Directors' remuneration

75,529

125,777

7.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

5,397

2,078

Depreciation - owned assets

108,714

88,251

Depreciation - assets on hire purchase contracts

112,307

112,308

Profit on disposal of fixed assets

(4,500

)

-

Audit fees

-

23,173

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Hire purchase

38,300

23,589

9.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

478,706

386,994

Under provision in previous

year

-

349

Total current tax

478,706

387,343

Deferred tax:

Origination and reversal of timing differences

174,023

6,871

Tax on profit

652,729

394,214

UK corporation tax was charged at 25%) in 2024.

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

2,689,737

1,667,395

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

672,434

416,849

Effects of:

Income not taxable for tax purposes

2,184

-

Capital allowances in excess of depreciation

(182,676

)

(6,871

)

Deferred tax

174,023

6,871

Research and development enhanced deduction

(13,236

)

(22,984

)

expenditure credit

Under provision of tax in prior year

-

349

Total tax charge

652,729

394,214

10.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 November 2024

102,974

Additions

38,303

At 31 October 2025

141,277

NET BOOK VALUE

At 31 October 2025

141,277

At 31 October 2024

102,974