The directors present the strategic report for the year ended 30 September 2025.
During the year the group continued to provide commercial cleaning, facilities management, building maintenance and related support services to customers across the United Kingdom.
The year remained competitive for the facilities management sector, with customers continuing to review property usage, operating costs and service requirements. Against that background, the company focused on protecting service quality, improving operational discipline and ensuring that its cost base remained appropriate for the level and type of work being delivered.
Turnover increased to £27.1m from £25.0m in the prior year. Gross profit remained broadly stable at £5.3m, although gross margin reduced to 19.49% from 20.89%. Profit before tax reduced to £655k from £773k, reflecting margin pressure and increased operating and finance costs.
The directors have continued to streamline the business and make it more focused on customer service, profitable growth and consistent delivery standards. This included restructuring certain areas of the business, developing and deploying a new dedicated sales team, improving commercial focus and continuing to invest management time in people development, service delivery and customer relationships.
The group remains focused on reliable service delivery, retaining and developing its people, improving contract performance and building long term customer relationships. The directors consider these areas to be central to the company’s future performance and resilience.
The directors regularly consider the principal risks facing the company as part of the management of the business. The principal risks and uncertainties are considered to be as follows:
Economic conditions and customer demand: the group remains exposed to wider economic conditions, including customer cost pressures, business failures and changes in the way customers use their premises. These factors may affect service volumes, contract scope and customer retention.
Margin and pricing pressure: the group operates in a competitive market and is exposed to wage inflation, supplier cost increases and pressure on contract pricing. The directors manage this risk through contract review, cost control and a focus on commercially sustainable work.
Labour and people risk: the group depends on its employees and managers to deliver consistent service standards. Recruitment, retention, training and supervision remain important areas of focus, particularly in a labour intensive sector.
Service delivery and customer service: maintaining consistent operational performance is essential to customer retention and reputation. The group manages this risk through operational oversight, customer engagement and continued focus on service standards.
Credit and cash collection risk: the group is exposed to the recoverability and timing of trade debtor receipts. The directors monitor debtor levels, credit control and cash management to support liquidity and working capital.
Technology and systems risk: the group continues to rely on operating systems, data and communications technology to manage service delivery and reporting. The directors recognise the need to continue improving systems and controls in line with the needs of the business.
Regulatory and compliance risk: the group operates in an environment requiring compliance with employment law, health and safety, data protection and other applicable regulatory requirements. The directors seek to manage this risk through policies, procedures, training and external advice where appropriate.
The group has continued to develop its operating structure in response to market conditions and customer requirements. The restructuring undertaken during the year was designed to improve efficiency, strengthen accountability and support profitable growth.
The development and deployment of a new dedicated sales team is intended to improve the company’s ability to identify suitable opportunities, support existing customer relationships and ensure that new work is pursued on a commercially disciplined basis. The directors also remain focused on people development, service standards and operational management as key drivers of future performance.
The directors monitor a range of financial and operational measures when assessing the performance of the company. The principal financial measures for the year included:
Turnover £27.1m (2024 - £25.0m): this was increased both through organic growth and the renegotiation of customer contracts.
Gross profit 19.49% (2024 - 20.89%): the increase in National Minimum Wage has impacted margin but the directors are pleased that the renegotiated contracts have mitigated this negative impact.
Operating profit £411k (2024 - £574k): whilst administrative costs increased in the year the directors are confident that these increases can be absorbed by the group. Costs will reduce in the coming period as the group vacates properties that are no longer required.
Non-financial measures considered by the directors include:
Customer retention and satisfaction 87% (2024 - 84%): the team is committed to delivering a high-quality customer experience, building stronger relationships and responding effectively to customer needs. The increase demonstrates continued customer confidence and loyalty providing a solid foundation for sustained growth and future success.
Staff retention and employee development 96% (2024 - 95%): the directors are pleased with the group's continued success in retaining a stable and experienced workforce. Retention is expected to remain high due to continued investment in employee wellbeing, professional development opportunities, supportive leadership and a positive workplace culture, all of which contributes to high levels of staff engagement and job satisfaction.
Effectiveness of the company’s sales and operational management structures: whilst not lending itself to exact statistical analysis the directors believe that management structures are effective in providing clear leadership, accountability and direction across the organisation. Roles and responsibilities are well defined, enabling efficient decision making and strong communication between teams. The structure supports collaboration, promotes consistency in operations, and allows the organisation to respond effectively to challenges and opportunities. Overall the management framework contributes positively to achieving strategic objectives and maintaining high standards of performance.
The directors expect these measures to remain important as the business continues to focus on profitable growth and service quality.
Future developments
Looking ahead, the directors expect the group to continue focusing on profitable growth, customer service and operational efficiency. The development of the new dedicated sales team, the streamlining of the operating structure and the continued emphasis on people development are expected to support the group’s future performance.
The group will continue to review its cost base, contract performance and working capital requirements while seeking to improve service delivery and strengthen customer relationships. The directors remain confident that the steps taken during the year provide a stronger platform for sustainable growth and improved profitability.
On behalf of the board
The directors present their annual report and financial statements for the year ended 30 September 2025.
The results for the year are set out on page 10.
No ordinary dividends were paid. The directors do not recommend payment of a further dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The group’s activities expose it to a number of financial risks, including credit risk, cash flow risk and liquidity risk. The directors manage these risks through regular review of working capital, debtor recovery, supplier obligations and available finance facilities. The group does not use derivative financial instruments for speculative purposes.
The directors monitor liquidity to ensure that sufficient funds are available for ongoing operations and future requirements. This includes review of cash resources, debtor recoverability, supplier commitments and finance facilities available to the group.
The group manages cash flow risk by monitoring cash balances, debtor receipts, creditor payments and forecast working capital requirements. The group has access to an invoice discounting facility and continues to monitor its financing requirements in light of trading activity and customer payment patterns.
The group’s credit risk is primarily attributable to trade debtors. The directors manage this risk through credit control procedures, review of overdue balances and consideration of provisions where recovery is doubtful. The group seeks to maintain a broad customer base and to manage exposure to individual customer default.
The group did not carry out any research and development activities during the financial year.
The group's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.
Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial end economic factors affecting the company's performance.
There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the company's performance.
The directors are of the opinion that there are no significant post reporting date events requiring disclosure in these financial statements.
In accordance with the company's articles, a resolution proposing that Sedulo Audit Limited be reappointed as auditor of the group will be put at a General Meeting.
United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company 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 group and parent company, 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;
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent 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 group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
We have audited the financial statements of Premier Support Services Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including 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).
Basis for 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 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
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
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.
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:
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the facilities management and business support services sector;
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 and taxation legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
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 selected on a risk criteria basis to identify unusual transactions; and
investigated the rationale behind significant or unusual transactions; and
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;
reading the minutes of meetings of those charged with governance;
enquiring of management as to any actual and potential litigation and claims.
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 is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £781,237 (2024 - £1,224,653 profit).
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
Premier Support Services Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is 4-5 Western Court, Bromley Street Digbeth, Birmingham, B9 4AN.
The group consists of Premier Support Services Group Limited and all of its subsidiaries.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The consolidated group financial statements consist of the financial statements of the parent company Premier Support Services Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.
All financial statements are made up to 30 September 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.
Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.
Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.
If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.
Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.
At the time of approving the financial statements, the directors have a reasonable expectation that the group and parent company have adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for cleaning services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes inro account trade discounts, settlement discounts and volume rebates.
Both commercial and industrial services are billed monthly on the first day of the following month of the cleaning service in line with the agreed contract price. Accrued income is recorded when services have been performed, but invoicing is delayed due to contractual billing cycles.
Revenue from contracts for building maintenance services is recognised in accordance with the stage of completion method, if costs incurred and estimated costs to completion can be measured reliably. The stage of completion is determined using the cost-to-cost method where incurred costs, primarily labour and materilas are compared to total estimated contract costs. In cases where reliable estimation is not possible revenue is recognised only to the extent that expenses are recoverable. Deferred income represents advance payments received from customers prior to works completed, these amounts are recorded as contract liabilities and recognised as revenue once the related performance obligations are satisfied.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.
Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.
In the parent company financial statements, investments in associates are accounted for at cost less impairment.
Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Group goodwill is subject to an annual review for indicators of impairment. Based on the evaluation of both external and internal indicators and financial performance, management has concluded that no indicators of impairment were identified as at 30 September 2025.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
This estimate relates to the parent company's individual financial statements, as the investment in the subsidiary is eliminated on consolidation. Management has assessed the carrying value of the investment by applying forecasted EBITDA figures and an industry-specific EBITDA multiple. The key assumptions underlying this valuation include the accuracy of forecasted financial performance and the appropriateness of the EBITDA multiple applied. Due to the level of judgement involved, this remains a key source of estimation uncertainty.
The group establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability, the directors have considered factors such as the aging of the receivables, past experience of recoverability, and the credit profile of individual or groups of customers
The group depreciates tangible assets, over their estimated useful lives. The estimation of the useful lives of tangible assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied.
Judgement is also applied, when determining the residual values for fixed assets. When determining the residual value, the directors have assessed the amount that the group would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful life. Where possible this is done with reference to external market prices.
Exceptional costs in the prior year were in relation to the costs reduction and non-recurring costs of the group restructure.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1)
The actual (credit)/charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:
The group has tax losses of £76,132 (2024: £Nil) to offset against future trading profits. A deferred tax asset of approximately £19,000 (2024: £Nil) has not been provided in respect of these losses due to the uncertainty over the timing of their recovery.
The group net carrying amount of assets held under finance leases included in motor vehicles is £104,055 (2024: £161,231).
Details of the company's subsidiaries at 30 September 2025 are as follows:
Transactions with group companies are conducted at arms length and are repayable on demand.
The long-term loans are secured by fixed and floating charges over all assets held within the group. The loan facility has been arranged by FDC Debt LP and its general partner FDC General Partner Limited and has an interest rate of 8%.
Bibby Financial Services Ltd have a first legal mortgage, on all land belonging to the subsidiary company (land meaning such items as freehold land, leasehold land, buildings, fixtures and fittings and plant and machinery). It also contains a fixed charge and a floating charge on all property or undertakings of the subsidiary company.
Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
The following are the major deferred tax liabilities and assets recognised by the group and company:
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
No events after the reporting date have occurred that required disclosure.