REGISTERED NUMBER: 00143125 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2025

for

T Manners & Sons Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

R B Manners

S O Manners

I R Manners

Mrs K M C Manners

W Harris

S Francis

S Bell

SECRETARY:

R B Manners

REGISTERED OFFICE:

Peel House

2 Dovecot Hill

South Church Enterprise Park

Bishop Auckland

Co. Durham

DL14 6XW

REGISTERED NUMBER:

00143125 (England and Wales)

AUDITORS:

Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

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

REVIEW OF BUSINESS

The principal activity of the company is that of a construction contractor acting across a number of different sectors as independent trading divisions, these being;

- Construction including house building

- Specialist Joinery

- Mechanical

- Small Works

- Fire Doors

Construction - The management team continued to be developed during 2025 with the addition of the technical support staff, Contracts managers and Quantity surveyors. 2025 was another successful year for the division with both housing & commercial projects. We secured first on the PROSPER new build housing framework for the North East region and alongside this we started works on site with two projects for Durham County Council on the framework to deliver council homes, with several other projects in the pipeline. Alongside this we started various other projects with either new or existing clients within the social housing sector.The construction division also saw an increase in the amount of commercial works secured some for either new or existing clients.

Specialist Joinery - 2025 continued the development of the division under T Lowes leadership. This has consolidated the increases in turnover that started in 2024. The client base has been expanded, and the turnover has increased and this is reflected in a buoyant order book and prospects for 2026.

Small Works - The trading conditions in 2025 have proved very challenging again.

The client base continues to be developed, and this will lead to an improved performance in 2026

Management changes during 2025 brought the division to breakeven by the end of the year. Early trading in 2026 is expected to continue to be challenging.

The client development and management changes will result in improved performance in 2026.

Fire Doors - The trading conditions in 2025 have proved very challenging again.

The client base continues to be developed and the this will lead to an improved performance in 2026.

Management changes during 2025 brought the division to breakeven by the end of the year. Early trading in 2026 is expected to continue to be challenging

Mechanical - The division increased its turnover and margins within 2025. Whilst internally awarded contracts still contribute to the division's success, a growing reputation secured through the delivery of well executed projects has reaped significant rewards for the Mechanical Division. The recruitment of further management support within the division ensured that contract wins and growth were well managed to the benefit of the business.

FUTURE DEVELOPMENTS

The strategic plan for the company seeks to;

Continue the growth and expansion our construction division through a combination of commercial (non residential) projects and housing contracts predominantly sourced from Housing Association and Local Authority clients.

Continue the focussed growth of the Specialist Joinery division under the new divisional management through expanded client base and ensuring existing customers continue to receive the high quality product and service which is creating the repeat custom.

Continue to support the new management structure introduced within the Small Works and Fire Door Divisions to generate the increase in sustainable turnover and profitability identified within the 2026 business plan.

Target further growth within the mechanical division, capitalising on new clients identified through 2025 in student accommodation, residential housing and on commercial projects, with increased efficiencies through expanded management team generated.

Commence work on new branding for the business.

PRINCIPAL RISKS AND UNCERTAINTIES

We anticipate a steady and sustainable increase in turnover, increasing commensurate with our staffing levels.

We have to put in place management systems to ensure that our staff perform as we require.

The change in government in 2024 has had a destabilising effect on the construction sector. Despite the new governments stated intentions the reality is a slow down in orders and affordable housing grants.

Whilst affordable housing will be a key policy driver for any new administration, the time taken to see the resultant policies being implemented may create a delay to some projects commencing.

The changes proposed by the Labour party relating to employment law and workers' rights will add significantly to our HR costs as do the changes to employers NI.

Skilled resource capable of delivering the range and complexity of the projects delivered by T Manners are in short supply. Recruitment and retention of staff across all parts of the company will be a key risk to the effective delivery of contracts.

The requirement for bonds on projects is significant and will prove challenging.

KEY PERFORMANCE INDICATORS

Given the straightforward nature of the business, the company's directors are of the opinion that analyses using KPI's is not necessary for an understanding of the development, performance or position of the entity, and that all relevant financial information has been disclosed within the financial statements.

ON BEHALF OF THE BOARD:

R B Manners - Director

7 August 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of building contractors.

DIVIDENDS

A dividend of £0.66 per share was paid on 27 June 2025.

A dividend of £4 per share was paid on 23 July 2025.

The total distribution dividends during the year ended 31 December 2024 were £14,000.

RESEARCH AND DEVELOPMENT

We are researching increased use of Information technology in relation to all site admin and accountancy processes.

We actively research improved processes for site-based solutions to site problems, and there is also product development in the joinery division.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

R B Manners

S O Manners

I R Manners

Mrs K M C Manners

W Harris

S Francis

S Bell

ENGAGEMENT WITH EMPLOYEES

Directors meet on a monthly basis, outputs from which are then cascaded down through divisional team meetings which regularly occur to ensure timely communication. Close contact and visibility on site and an open-door policy at Head Office with departments leads results in employees getting proactive direct messaging and support. Directors are made aware and sponsor all key initiatives from corporate responsibility community partnership events to business development. Regular engagement and communications (and the Directors "voice") comes from the Business Plan launch at year end, quarterly newsletters, team meetings. Audits, IiP, Employee Consultation Groups, pulse surveys and employee questionnaires and the personal development programme enable the opportunity for a two-way voice and awareness.

Through another difficult year employees have been supported through regular communications and the opportunity to help contribute and shape the business through suggestion boxes/individual follow ups as required, employee consultation group meetings, establishing an in house annual compensation and reward review and a new personal development programme focusing on meaningful conversations launched as well as signing up to the lighthouse project mental health charter in construction and promoting more activities and support in this space. Through natural attrition there are many exciting opportunities for existing staff in an SME to take advantage of.

The company also retained its IiP status in the year, and is continuing to develop management training programmes.

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Anderson Barrowcliff Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R B Manners - Director

7 August 2026

Opinion

We have audited the financial statements of T Manners & Sons Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of 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 December 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Based on our understanding of the industry, we have considered applicable laws and regulations which may be fundamental to the company's ability to operate or to avoid a material penalty, and we considered the extent to which non-compliance might have a material effect on the financial statements. We considered management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate manual journal entries to manipulate financial performance, management bias in significant accounting estimates and any significant one-off or unusual transactions.

We discussed among the audit engagement team the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

Audit procedures performed by the engagement team included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims.

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

- Challenging estimates and judgements made by management in their significant accounting estimates.

- Revenue recognition; agreeing a sample of revenue transactions to gain assurance over the occurrence and accuracy of revenue and also to ensure revenue has been recognised in the correct period.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Shawcross FCA (Senior Statutory Auditor)

for and on behalf of Anderson Barrowcliff Limited

Statutory Auditors

Chartered Accountants

3 Kingfisher Court

Bowesfield Park

Stockton on Tees

TS18 3EX

7 August 2026

TURNOVER

3

29,392,936

27,550,955

Other operating income

4

30,849

35,748

29,423,785

27,586,703

Raw materials and consumables

23,056,726

21,793,209

6,367,059

5,793,494

Staff costs

5

4,704,900

4,458,698

Depreciation

111,626

104,351

Other operating expenses

1,387,900

1,089,021

6,204,426

5,652,070

OPERATING PROFIT

162,633

141,424

Interest receivable and similar income

6,820

20,084

Interest payable and similar expenses

6

(34,586

)

(23,318

)

PROFIT BEFORE TAXATION

7

134,867

138,190

Tax on profit

8

1,614

14,228

PROFIT FOR THE FINANCIAL YEAR

133,253

123,962

OTHER COMPREHENSIVE INCOME

Revaluation gain on freehold property

Income tax relating to other comprehensive income

-

61,250

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

61,250

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

133,253

185,212

FIXED ASSETS

Tangible assets

10

1,069,637

1,022,760

Investments

11

2

2

Investment property

12

271,291

205,000

1,340,930

1,227,762

CURRENT ASSETS

Stocks

13

351,463

76,428

Debtors

14

6,436,561

5,394,381

Cash at bank and in hand

2,397,332

419,666

9,185,356

5,890,475

CREDITORS

Amounts falling due within one year

15

7,166,329

5,086,824

NET CURRENT ASSETS

2,019,027

803,651

TOTAL ASSETS LESS CURRENT LIABILITIES

3,359,957

2,031,413

CREDITORS

Amounts falling due after more than one year

16

(1,268,513

)

(53,222

)

PROVISIONS FOR LIABILITIES

20

(72,000

)

(78,000

)

NET ASSETS

2,019,444

1,900,191

CAPITAL AND RESERVES

Called up share capital

21

3,000

3,000

Non distributable reserve

22

123,706

123,706

Revaluation reserve

22

386,342

386,342

Retained earnings

22

1,506,396

1,387,143

SHAREHOLDERS' FUNDS

2,019,444

1,900,191

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2026 and were signed on its behalf by:

R B Manners - Director

Called up

Non

share

Retained

distributable

Revaluation

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

3,000

1,385,637

386,342

-

1,774,979

Changes in equity

Dividends

-

(60,000

)

-

-

(60,000

)

Total comprehensive income

-

61,506

(262,636

)

386,342

185,212

Balance at 31 December 2024

3,000

1,387,143

123,706

386,342

1,900,191

Changes in equity

Dividends

-

(14,000

)

-

-

(14,000

)

Total comprehensive income

-

133,253

-

-

133,253

Balance at 31 December 2025

3,000

1,506,396

123,706

386,342

2,019,444

Cash flows from operating activities

Cash generated from operations

1

904,341

(1,407,326

)

Interest paid

(29,372

)

(18,036

)

Interest element of hire purchase payments paid

(5,214

)

(5,282

)

Tax paid

-

(65,589

)

Net cash from operating activities

869,755

(1,496,233

)

Cash flows from investing activities

Purchase of tangible fixed assets

(81,677

)

(225,819

)

Purchase of investment property

(66,291

)

-

Sale of tangible fixed assets

7,761

-

Interest received

6,820

20,084

Net cash from investing activities

(133,387

)

(205,735

)

Cash flows from financing activities

New loans in year

1,314,099

-

Capital repayment of loans

(64,350

)

(403,037

)

Hire Purchase capital repayments in year

(19,451

)

(22,059

)

Amount introduced by directors

25,000

-

Amounts withdrawn by directors

-

(25,000

)

Equity dividends paid

(14,000

)

(60,000

)

Net cash from financing activities

1,241,298

(510,096

)

Increase/(decrease) in cash and cash equivalents

1,977,666

(2,212,064

)

Cash and cash equivalents at beginning of year

2

419,666

2,631,730

Cash and cash equivalents at end of year

2

2,397,332

419,666

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

2025

2024

£

£

Profit before taxation

134,867

138,190

Depreciation charges

119,375

104,351

Profit on disposal of fixed assets

(7,749

)

-

Finance costs

34,586

23,318

Finance income

(6,820

)

(20,084

)

274,259

245,775

(Increase)/decrease in stocks

(275,035

)

123,233

Increase in trade and other debtors

(1,067,180

)

(373,448

)

Increase/(decrease) in trade and other creditors

1,972,297

(1,402,886

)

Cash generated from operations

904,341

(1,407,326

)

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 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

2,397,332

419,666

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

419,666

2,631,730

3.	ANALYSIS OF CHANGES IN NET FUNDS

Other

non-cash

At 1.1.25

Cash flow

changes

At 31.12.25

£

£

£

£

Net cash

Cash at bank

and in hand

419,666

1,977,666

-

2,397,332

419,666

1,977,666

-

2,397,332

Debt

Finance leases

(69,096

)

19,451

(84,587

)

(134,232

)

Debts falling due

within 1 year

-

(80,007

)

-

(80,007

)

Debts falling due

after 1 year

-

(1,169,742

)

-

(1,169,742

)

(69,096

)

(1,230,298

)

(84,587

)

(1,383,981

)

Total

350,570

747,368

(84,587

)

1,013,351

1.	STATUTORY INFORMATION

T Manners & Sons Limited is a private company, limited by shares, registered in England. The company's registered office address can be found on the company information page.

2.	ACCOUNTING POLICIES

General information and basis of preparing the financial statements

The address of the registered office is given in the company information on page 1 of these financial statements. The nature of the company's operations and its principal activities are set out in the Strategic Report on page 2.

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and the Republic of Ireland" (FRS 102) and the Companies Act 2006 The financial statements have been prepared on the going concern basis under the historic cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the company, rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Preparation of consolidated financial statements

The financial statements contain information about T Manners & Sons Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 405 of the Companies Act 2006 not to prepare consolidated financial statements as the subsidiaries are immaterial.

Turnover

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

When the outcome of a transaction can be estimated reliably, turnover from joinery, small works, mechanical and fire doors division is recognised by reference to the stage of completion at the balance sheet date. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value or the service provided to date based on the stage of completion of the contract activity at the balance sheet date.

Construction Contracts

Where the outcome of a construction can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stages of completion.

Where the outcome cannot be estimated reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Tangible fixed assets

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

Freehold property

- 0-4% on cost

Plant and machinery

- 20% on cost

Fixtures and fittings

- 25-33% on cost

Motor vehicles

- 20-33% on cost

Other than the solar panels which are depreciated at 4% on cost, freehold property is not depreciated. Although this is not in accordance with FRS 102 section 17.18 the buildings are always kept in a state of good repair and the Directors believe that the fair value is an acceptable valuation. We have not qualified our opinion in this respect as we believe the treatment to be acceptable and the depreciation charge would not be material to the accounts.

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Land and buildings are valued at fair value.

Fixed asset investments

Fixed asset investments are held at cost less impairment.

Investment property

Investment properties for which fair value can be measured reliably without undue cost of effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Work in progress (short term) is valued on the basis of cost to date plus attributable overheads. Amounts recoverable on contracts is valued on the basis of cost plus attributable profit to date - provision being made for losses.

Development land is valued at cost price plus development work at cost without any addition for overheads.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events reorganised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain expectations. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Leasing commitments

Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The Company operates a contributory pension scheme for Directors and staff. Expenditure is charged to the Profit and Loss Account when contributions are paid.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and Borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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 of the revision, if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Amounts Recoverable on Contracts

Amounts recoverable on contracts are stated at cost plus attributable profit to the extent that such profit is

reasonably certain and after making provision for any foreseeable losses in completing contracts, less payments on account received.

3.

TURNOVER

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

An analysis of turnover by class of business is given below:

2025

2024

£

£

Rendering of services

29,392,936

27,550,955

29,392,936

27,550,955

4.	OTHER OPERATING INCOME

2025

2024

£

£

Rents received

16,719

18,248

Other Income

10,130

15,000

Grants received

4,000

2,500

30,849

35,748

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,923,205

3,880,188

Social security costs

480,937

387,474

Other pension costs

300,758

191,036

4,704,900

4,458,698