REGISTERED NUMBER: 10136504 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025

FOR

NORTH EAST PLANT LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTOR:

P Hughes Snr

REGISTERED OFFICE:

Oil Depot

242

London Road

Stretton on Dunsmore

CV23 9JA

REGISTERED NUMBER:

10136504 (England and Wales)

AUDITORS:

Flint & Thompson

Statutory Auditors

2 Manor Square

Solihull

West Midlands

B91 3PX

The director presents his strategic report for the year ended 31 July 2025.

FAIR REVIEW OF BUSINESS

2025 has seen a reduction in turnover in the year for the Company, with turnover falling by 67.9% to £4.3M (2024 - £13.4M), seeing a reduction in gross profit margins to 67.8% (2024 - 85.4%).

The Company made net loss of £184K compared to net profit of £5.4M in 2024. Depreciation charges also remain significant due to further investment in plant and machinery, these are £2.3M compared with £5.1M in 2024.

At 31 July 2025, the Company had net assets of £13.5M with cash reserves of £122K.

Going forward, the director believes that the Company is in a good position to continue to grow their offering to existing clients and provide a high level of service. The Company continues to invest in plant & machinery to maintain their fleet offering, which the director utilizes as part of his strategy to further the growth of the business.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the Company and execution of the Company's strategy are subject to standard business risks. The key business risks and uncertainties affecting the Company are considered to relate to liquidity risk and credit risk.

Liquidity risk

The Company is exposed to liquidity risk via their financial instruments, namely their trade debtors and trade creditors. The timing of cash flows in the business and overall cash cycle are impacted by the scale of their transactions, with significant plant and machinery purchases and subcontractor payments being matched with material sales invoice receipts from major customers. The director manages this risk by carefully monitoring the cash position of the Company and ensuring that their projections for inflows and outflows provide a sufficient margin of safety that the business can continue to meet their obligations as they come due.

Credit risk

The Company is exposed to a credit risk via their trade debtors, as there are relatively few sales invoices and customers, with each transaction being near or above material in value. The risk of non-payment of invoices is managed by the director via careful consideration of customers credit worthiness before accepting any new work.

ON BEHALF OF THE BOARD:

P Hughes Snr - Director

28 July 2026

The director presents his report with the financial statements of the company for the year ended 31 July 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the lease of plant and equipment.

DIVIDENDS

Interim dividends of £432,315 were paid during the period. The total distribution of dividends for the period ended 31 July 2025 will be £432,315 (2024 - £219,266).

DIRECTOR

P Hughes Snr held office during the whole of the period from 1 August 2024 to the date of this report.

FINANCIAL INSTRUMENTS

The Company's financial instruments, comprising borrowings, cash and liquid resources, and various other items such as trade debtors, trade creditors, etc. that arise directly from its operations. The main purpose of these financial instruments is to finance the operations of the Company. The main source of income for the Company, the hire of plant & equipment, are subject to credit risk and cash flow risks.

The details of key risk management have been disclosed in the strategic report.

The director constantly monitors the trading results of the Company to ensure that the Company can meet its obligations as they fall due and has a reasonable expectation that the Company has sufficient resources to continue in operational existence for the foreseeable future and therefore the director continues to adopt the going concern basis of accounting in preparing the annual financial statements.

FUTURE DEVELOPMENTS

The director has carefully considered the forward outlook for the Company and believes that his strategy of maintaining an up-to-date fleet which can flexibly provide heavy machinery to their clients across the UK on a hire basis will continue to provide the Company with the opportunity to grow and develop.

GOING CONCERN

The financial statements have been prepared on a going concern basis which the director considers to be appropriate. The company has group support to ensure that it meets its liabilities for a period of no less than 12 months from the approval of the financial statements.Consequently, the director is confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements and therefore have prepared them on a going concern basis.

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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, Flint & Thompson, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

P Hughes Snr - Director

28 July 2026

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 July 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement set out on pages three and four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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:

We identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations was as follows:

- discussion with directors and management of the nature of the industry, control environment and business performance;

- results of our enquiries of management about their own identification and assessment of the risks of irregularities;

- any matters we have identified having reviewed the company's procedures for complying with laws and regulations and whether they were aware of any instances of non-compliance. The key laws we considered in this context included the Companies Act 2006, taxation legislation, data protection and health and safety legislation.

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

- reviewing balance sheet control accounts to ensure properly reconciled;

- addressing the risks of fraud through management override of controls by performing journal entry testing;

- performing analytical procedures to identify any unusual or unexpected relationships that may include risks of material misstatement due to fraud;

- enquiring with management concerning actual and potential litigation claims

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.

Peter Haughton FCCA MAAT (Senior Statutory Auditor)

for and on behalf of Flint & Thompson

Statutory Auditors

2 Manor Square

Solihull

West Midlands

B91 3PX

28 July 2026

TURNOVER

4,288,077

13,350,401

Cost of sales

1,382,420

1,951,045

GROSS PROFIT

2,905,657

11,399,356

Administrative expenses

3,177,399

5,774,025

(271,742

)

5,625,331

Other operating income

-

11,883

OPERATING (LOSS)/PROFIT

4

(271,742

)

5,637,214

Interest receivable and similar income

-

450,000

(LOSS)/PROFIT BEFORE TAXATION

(271,742

)

6,087,214

Tax on (loss)/profit

5

(498,291

)

735,747

PROFIT FOR THE FINANCIAL YEAR

226,549

5,351,467

PROFIT FOR THE YEAR

226,549

5,351,467

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

226,549

5,351,467

FIXED ASSETS

Tangible assets

7

7,926,984

9,920,148

CURRENT ASSETS

Debtors

8

18,177,709

20,144,727

Cash at bank

122,584

21,310

18,300,293

20,166,037

CREDITORS

Amounts falling due within one year

9

10,294,379

13,449,230

NET CURRENT ASSETS

8,005,914

6,716,807

TOTAL ASSETS LESS CURRENT LIABILITIES

15,932,898

16,636,955

PROVISIONS FOR LIABILITIES

11

1,981,906

2,480,197

NET ASSETS

13,950,992

14,156,758

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

13,950,892

14,156,658

SHAREHOLDERS' FUNDS

13,950,992

14,156,758

The financial statements were approved by the director and authorised for issue on 28 July 2026 and were signed by:

P Hughes Snr - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 August 2023

100

9,024,457

9,024,557

Changes in equity

Dividends

-

(219,266

)

(219,266

)

Total comprehensive income

-

5,351,467

5,351,467

Balance at 31 July 2024

100

14,156,658

14,156,758

Changes in equity

Dividends

-

(432,315

)

(432,315

)

Total comprehensive income

-

226,549

226,549

Balance at 31 July 2025

100

13,950,892

13,950,992

1.	STATUTORY INFORMATION

North East Plant 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.

The presentational currency of these financial statements is sterling. All amounts in the financial statements have been rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis which the director considers to be appropriate. The company has group support to ensure that it meets its liabilities for a period of no less than 12 months from the approval of the financial statements.Consequently, the director is confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements and therefore have prepared them on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

•

the requirement of paragraph 33.7;

•

the requirements of paragraph 24(b) of IFRS 6.

The company has elected to take the exemptions relating to this entity being consolidated into the financial statements of the parent entity, Frank Solutions Limited, a company registered in the Isle of Man.

Significant judgements and estimates

Management do not consider there to have been any significant judgements or estimates made when applying the above accounting policies during the preparation of the financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revisions affects both current and future periods.

Judgements

No significant judgements have been made by management in preparing these financial statements

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on the delivery of goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be reliably measured.

Revenue from the hire of assets is recognised over the duration of the hire period. Once an asset is delivered to a customer, the company maintains substantially all the risks and rewards in relation to ownership of these assets, but recognises revenue as the associated economic benefits associated with ownership of the asset flow to the entity; and the costs incurred or to be incurred in respect of these hire transactions can be reliably measured.

Tangible fixed assets

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

Plant and machinery

-

20% per annum of net book value

Motor vehicles

-

25% Straight line

Computer equipment

-

33% per annum of cost

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

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

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.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

97,388

41,171

Social security costs

10,344

-

Other pension costs

2,113

-

109,845

41,171

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

2025

2024

Management

-

1

Direct Staff

2

-

2

1

2025

2024

£

£

Director's remuneration

-

8,333

4.	OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

86,631

8,065

Depreciation - owned assets

2,345,484

5,075,708

Profit on disposal of fixed assets

(139,498

)

(39,226

)

Auditors' remuneration

8,665

11,750

5.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

-

1,033,825

Deferred tax

(498,291

)

(298,078

)

Tax on (loss)/profit

(498,291

)

735,747

Reconciliation of total tax (credit)/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

£

£

(Loss)/profit before tax

(271,742

)

6,087,214

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

(67,936

)

1,521,804

Effects of:

Expenses not deductible for tax purposes

-

(9,078

)

Depreciation in excess of capital allowances

478,898

842,818

Utilisation of tax losses

-

(1,321,718

)

Deferred tax

(498,290

)

(298,079

)

Group relief

(410,963

)

-

Total tax (credit)/charge

(498,291

)

735,747

6.

DIVIDENDS

2025

2024

£

£

Ordinary shares of 1 each

Interim

432,315

219,266

7.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2024

10,369,202

7,992

2,964,586

18,162

13,359,942

Additions

408,500

-

53,899

5,305

467,704

Disposals

(155,000

)

-

(26,756

)

-

(181,756

)

At 31 July 2025

10,622,702

7,992

2,991,729

23,467

13,645,890

DEPRECIATION

At 1 August 2024

2,100,292

6,199

1,320,747

12,556

3,439,794

Charge for year

1,715,974

826

623,792

4,892

2,345,484

Eliminated on disposal

(57,453

)

-

(8,919

)

-

(66,372

)

At 31 July 2025

3,758,813

7,025

1,935,620

17,448

5,718,906

NET BOOK VALUE

At 31 July 2025

6,863,889

967

1,056,109

6,019

7,926,984

At 31 July 2024

8,268,910

1,793

1,643,839

5,606

9,920,148

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

9,852,764

11,811,819

Amounts owed by group undertakings

60,111

60,111

Other debtors

8,141,856

8,140,756

Prepayments

122,978

132,041

18,177,709

20,144,727

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

340,756

294,310

Amounts owed to group undertakings

6,508,990

7,508,990

Corporation tax

1,063,141

1,033,825

Social security & other taxes

6,267

2,108

VAT

26,450

2,125,077

Other creditors

2,330,735

2,467,745

Accrued expenses

18,040

17,175

10,294,379

13,449,230

10.	FINANCIAL INSTRUMENTS

The company has financial assets and financial liabilities in the following categories:

Financial Assets

2024

2023

£

£

Trade and other receivables

20,144,726

9,142,490

Cash and cash equivalents

21,310

156,192

20,166,036

9,298,682

Financial Liabilities

2024

2023

£

£

Trade and other payables

13,449,230

10,871,466

13,449,230

10,871,466

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

1,981,906

2,480,197

Deferred

tax

£

Balance at 1 August 2024

2,480,197

Credit to Income Statement during year

(498,291

)

Balance at 31 July 2025

1,981,906

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100

13.

RESERVES

Retained

earnings

£

At 1 August 2024

14,156,658

Profit for the year

226,549

Dividends

(432,315

)

At 31 July 2025

13,950,892

14.	CAPITAL COMMITMENTS

2025

2024

£

£

Contracted but not provided for in the

financial statements

3,850,092

-

15.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the prior year the director operated a loan with the company with no fixed terms of repayment, interest was charged at a rate of 2.25%, totalling £NIL (2024 - £NIL) during the year. Amounts advanced during the year were NIL (2024 - £NIL) and repayments during the year were £NIL (2024 - £NIL). At the year end the amount owing to the company was £NIL (2023 - £NIL).

16.	RELATED PARTY DISCLOSURES

Key management personnel comprises the directors for the company. The directors received

remuneration in the year as disclosed in note 3.

The Company owes £6,508,989 (2024 £7,508,989) to its ultimate parent company - Frank Solutions Limited, a company registered in the Isle of Man.