REGISTERED NUMBER: 00262479 (England and Wales)

C.F.Struthers Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30th June 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Statement of Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTORS:

N Burton

M J Graves

SECRETARY:

M J Graves

REGISTERED OFFICE:

Millennium Works

Valletta Street

Hull

East Yorkshire

HU9 5NP

REGISTERED NUMBER:

00262479 (England and Wales)

AUDITORS:

Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

The directors present their strategic report for the year ended 30th June 2025.

REVIEW OF BUSINESS

The business continued much in line with expectations. Subcontract fabrication in addition to Waste Heat Recovery work. Margins reduced due to the ongoing uplift in employment costs in addition to the competitive nature of the industry. In addition, the company provided support to group including shop and site works associated with development projects at cost.

Turnover increased by 10% percent while margin reported down on normal trading. This reduction in overall reported profit is short term and the Directors state that this is not a trend. Moving forward the Directors are confident of uplift in turnover and margin. The business already having strong order book with increased margins forecast. Large offshore Waste Heat Recovery Projects for Blue Chip companies will boost the next years trading back in line with normal results.

Further recruitment is expected in both technical areas and workshop-based trades. The company's commitment to training continues with 100% success rate in apprenticeships.

Further Apprentice placements are being undertaken to continue the "In House "training regime.

The business continues to operate its strict Quality Policy in line with its accreditations together with further continuation in maintaining its ASME U and S stamp accreditation.

The Directors and Managers of the business continue their commitment to Health and Safety.

GOING CONCERN

The Directors consider the business well placed with a strong order book moving into the next trading period to 2026.

FUTURE DEVELOPMENTS

The directors are aware that workshop space needs be increased and are considering once more the various possibilities of expanding the Works footprint.

Additional focus on sales and further recruitment in the Engineering office underway.

Discussions held with local landlords in respect of possible extra workshop space being acquired to enable more large-scale contracts to be undertaken, particularly in Steam Generation.

PRINCIPAL RISKS AND UNCERTAINTIES

Risks in the business are constantly monitored. The Directors report that risks are well managed.

Quality standards are maintained at high levels and as such reduce incidence of rework and costs associated. The Company considers its incidence of rework to be near zero.

Constant monitoring of performance is reported by the Directors with adjustments made as and when appropriate to mitigate issues arising.

ON BEHALF OF THE BOARD:

N Burton - Director

13th August 2026

The directors present their report with the financial statements of the company for the year ended 30th June 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of fabrication engineers.

DIVIDENDS

The total distribution of dividends for the year ended 30 June 2025 was £263,000.

DIRECTORS

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

N Burton

M J Graves

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting.

BY ORDER OF THE BOARD:

N Burton - Director

13th August 2026

Opinion

We have audited the financial statements of C.F.Struthers Limited (the 'company') for the year ended 30th June 2025 which comprise the Statement of 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 30th June 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 three, 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.

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 focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

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

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

- tested journal entries to identify unusual transactions;

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

- investigated the rationale behind significant or unusual transactions.

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 actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

Due to 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. 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.

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 Dearing BSc FCCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

13th August 2026

TURNOVER

3

6,497,780

5,856,911

Cost of sales

5,055,650

4,126,187

GROSS PROFIT

1,442,130

1,730,724

Distribution costs

161,499

189,159

Administrative expenses

1,158,758

1,116,503

1,320,257

1,305,662

OPERATING PROFIT

5

121,873

425,062

Interest receivable and similar income

6,035

6,095

127,908

431,157

Interest payable and similar expenses

6

108,384

117,927

PROFIT BEFORE TAXATION

19,524

313,230

Tax on profit

7

4,952

(125,498

)

PROFIT FOR THE FINANCIAL YEAR

14,572

438,728

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

14,572

438,728

FIXED ASSETS

Tangible assets

9

3,768,759

3,799,917

Investments

10

554,904

554,904

4,323,663

4,354,821

CURRENT ASSETS

Stocks

11

1,287,613

1,332,793

Debtors

12

4,374,019

4,806,262

Cash at bank and in hand

1,257,447

968,508

6,919,079

7,107,563

CREDITORS

Amounts falling due within one year

13

2,054,199

1,891,288

NET CURRENT ASSETS

4,864,880

5,216,275

TOTAL ASSETS LESS CURRENT LIABILITIES

9,188,543

9,571,096

CREDITORS

Amounts falling due after more than one year

14

(1,147,300

)

(1,286,377

)

PROVISIONS FOR LIABILITIES

18

(217,704

)

(212,752

)

NET ASSETS

7,823,539

8,071,967

CAPITAL AND RESERVES

Called up share capital

19

100,000

100,000

Revaluation reserve

20

1,987,169

1,987,169

Retained earnings

20

5,736,370

5,984,798

SHAREHOLDERS' FUNDS

7,823,539

8,071,967

The financial statements were approved by the Board of Directors and authorised for issue on 13th August 2026 and were signed on its behalf by:

N Burton - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1st July 2023

100,000

5,663,070

1,987,169

7,750,239

Changes in equity

Dividends

-

(117,000

)

-

(117,000

)

Total comprehensive income

-

438,728

-

438,728

Balance at 30th June 2024

100,000

5,984,798

1,987,169

8,071,967

Changes in equity

Dividends

-

(263,000

)

-

(263,000

)

Total comprehensive income

-

14,572

-

14,572

Balance at 30th June 2025

100,000

5,736,370

1,987,169

7,823,539

1.	STATUTORY INFORMATION

C.F.Struthers 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

The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standards 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

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.

Going concern

The financial statements have been prepared on a going concern basis which the directors consider appropriate.The directors are confident that the company's relations with its customers and suppliers, and its current trading, leave the company well placed to manage its business risk successfully.

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 requirement of paragraph 33.7.

Significant judgements and estimates

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

In respect of long term contracts there is inevitably some uncertainty on the anticipated costs to completion. However, only in those cases where, in the directors opinion, those can be estimated reliably is any attributable profit accounted for.

Turnover

Revenue represents sales to outside customers, net of VAT and trade discounts, in the ordinary course of business for goods supplied as a principle and for services provided.

Sales of products are recognised when the significant risks and rewards of ownership are transferred to the customer and they have a legally binding obligation to settle under any terms of the contract.

In the case of long term contracts providing that the outcome can be assessed with reasonable certainty, the revenues and costs on such contracts are recognised based on costs incurred to date and estimated to complete and overall contract profitability. Where the outcome cannot be measured 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.

Full provision is made for any estimated losses on completion of contracts having regard for the overall substance of the arrangements.

Tangible fixed assets

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.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property

- 2.5% on cost

Improvement to leasehold property

- 20% on cost

Plant and machinery etc

- 10% - 20% on cost

Fixtures and fittings

- 10% - 33.33% on cost

Motor Vehicles

- 25% on cost

Freehold property is valued by the directors using information available from professional valuations.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Contract work in progress is included in debtors stated at net realisable value. Cumulative turnover (i.e. the total turnover recorded in respect of the contract in the profit and loss accounts of all accounting periods since inception of the contract) is compared with total payments on account. If turnover exceeds payments on account an "amount recoverable on contracts" is established and separately disclosed within debtors. If payments on account are greater than turnover to date, the excess is classified within creditors.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currency

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Hire purchase and leasing commitments

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease. Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

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 statement of comprehensive income in administrative expenses.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

5,801,027

4,945,172

Rest of the world

696,753

911,739

6,497,780

5,856,911

The turnover and profit before tax are attributable to the principal activity of the company. The total amount of contract revenue recognised in the period was £6,497,780 (2024 £5,856,911).

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,422,051

2,203,655

Social security costs

276,844

235,627

Other pension costs

122,147

118,509

2,821,042

2,557,791

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

2025

2024

Management

13

13

Manufacturing

44

41

57

54

2025

2024

£

£

Directors' remuneration

90,437

101,189

Directors' pension contributions to money purchase schemes

25,551

25,449

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING PROFIT

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

2025

2024

£

£

Depreciation - owned assets

44,605

40,161

Depreciation - assets on hire purchase contracts

37,050

31,235

Profit on disposal of fixed assets

-

(14,638

)

Auditors' remuneration

20,490

22,456

Foreign exchange differences

1,562

(19

)

Operating lease rentals - Plant and machinery

13,005

13,005

Operating lease rentals - Fixtures and fittings

5,247

5,247

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

2,259

219

Other loan interest

101,150

111,037

Hire purchase interest

4,975

6,671

108,384

117,927

7.

TAXATION

Analysis of the tax charge/(credit)

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

2025

2024

£

£

Current tax:

UK corporation tax

-

(31,686

)

(Over)/ under provision in prior periods

-

(54,219

)

Total current tax

-

(85,905

)

Origination and reversal of timing differences

4,952

(39,593

)

Tax on profit

4,952

(125,498

)

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

Reconciliation of total tax charge/(credit) included in profit and loss

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

2025

2024

£

£

Profit before tax

19,524

313,230

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

4,881

78,308

Effects of:

Expenses not deductible for tax purposes

71

2,092

Adjustments to tax charge in respect of previous periods

-

(54,219

)

prior year

R&D claim

-

(151,679

)

Total tax charge/(credit)

4,952

(125,498

)

8.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

263,000

117,000

9.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1st July 2024

3,500,000

1,349,919

122,003

206,252

5,178,174

Additions

-

49,200

1,297

-

50,497

At 30th June 2025

3,500,000

1,399,119

123,300

206,252

5,228,671

DEPRECIATION

At 1st July 2024

-

1,191,731

107,890

78,636

1,378,257

Charge for year

-

30,221

5,425

46,009

81,655

At 30th June 2025

-

1,221,952

113,315

124,645

1,459,912

NET BOOK VALUE

At 30th June 2025

3,500,000

177,167

9,985

81,607

3,768,759

At 30th June 2024

3,500,000

158,188

14,113

127,616

3,799,917

The valuation of freehold property is based on past independent professional valuation and is considered by the directors at each reporting date.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST OR VALUATION

At 1st July 2024

and 30th June 2025

139,618

DEPRECIATION

At 1st July 2024

38,066

Charge for year

37,050

At 30th June 2025

75,116

NET BOOK VALUE

At 30th June 2025

64,502

At 30th June 2024

101,552

10.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st July 2024

and 30th June 2025

554,904

NET BOOK VALUE

At 30th June 2025

554,904

At 30th June 2024

554,904

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Struthers Energy & Power Limited

Registered office: Millennium Works, Valletta Street, Hull, East Yorkshire, HU9 5NP

Nature of business: Design and manufacture of energy recovery equipment

%

Class of shares:

holding

Ordinary

100.00

11.

STOCKS

2025

2024

£

£

Raw materials and spare parts

1,287,613

1,332,793

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

277,850

870,983

Amounts owed by group undertakings

3,561,359

3,243,359

Amounts recoverable on long

term contracts

407,076

430,938

Other debtors

28,591

51,758

Corporation tax

-

104,921

Prepayments

99,143

104,303

4,374,019

4,806,262