REGISTERED NUMBER: 08370956 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2025

for

Heritage Rocks Ltd

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

18

DIRECTORS:

Miss T Madge

Mr M Chittenden

SECRETARY:

Mr M Chittenden

REGISTERED OFFICE:

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

REGISTERED NUMBER:

08370956 (England and Wales)

AUDITORS:

Cartwrights

Chartered Accountants and Business Advisors

Statutory Auditor

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

The directors present their strategic report of the company and the group for the year ended 31 December 2025.

REVIEW OF BUSINESS

The group is a wedding venue provider and an hotel operation with multiple venues under its operation, same as previous year. Our strategy remains to grow the business organically by investing and improving the subsidiaries' facilities, sales force and advertising.

For the current year, revenue and profit rose compared to 2024 reflecting the impact of the business strategy and a return in consumer confidence following previous years economic conditions. The performance and profitability of the company is in line with our expectations. Given the tough micro and macro economic conditions, the directors are satisfied with the results and financial position of the company.

Key performance indicators

Performance of the company is monitored internally using a variety of statutory and alternative performance measures (APMs) and key performance indicators (KPls). APMs are used where management considers they are more representative of underlying trading or in monitoring performance against the company's objectives.

Turnover is an important metric as it reflects the core underlying activities of the company by adding together the turnover from each venue.

Gross Margin is an important metric as it provides valuable insight into whether the company is pricing it's services appropriately.

Operating profit is an important metric as it is an indirect measure of efficiency. The higher the net profit, the more profitable the company's core business is.

Earnings before interest, tax, depreciation and amortisation ("EBITDA") is considered, by management, to be informative as it reflects operating profit adjusted for non-cash charges.

The figures for these 4 key performance measures are stated below:

2025

2024

Turnover

£10,180,744

£8,718,320

Gross profit margin

73.58%

71.50%

Operating profit/(loss)

£795,093

£759,422

EBITDA

1,362,309

1,364,942

Turnover, and operating profit increased by 16.8% and 4.7% respectively for the year, whilst EBITDA remained consistent. This is accordance with our expectation of the group's performance.

With the experience gained in the wedding industry by the directors, we are confident that the Group has the potential to succeed despite the current economic climate. The aim of the Group is to provide high end quality services to our customers.

PRINCIPAL RISKS AND UNCERTAINTIES

In the course of normal business, the company continually assesses significant risks faced and takes action to mitigate the potential impacts. The principle risks (which is not intended to be a comprehensive analysis) facing the company are as follows:

Financial and liquidity

The general health of the UK economy and individuals disposable income is important to the company's success. The company manages any potential downturn in the economy by a policy of structuring payment plans for customers..

Operating capital - The availability of operating capital is crucial to ensuring that the company has sufficient funds to meet its liabilities as they fall due to suppliers and employees. The company manages this by reviewing the cash flow regularly, using variance analysis between actual and budgeted, and tracks on a rolling year to ensure sufficient funds are available.

Operational risks

Customer service - The company relies on its teams to provide quality customer service. Teams are provided with rigorous training, covering customer service, digital tools to inform risk and mitigate thereafter to ensure that high standards and customer experience are maintained.

Health and safety - All staff are provided with comprehensive training to ensure they are all aware of the risks and how they can help to mitigate them.

ON BEHALF OF THE BOARD:

Mr M Chittenden - Director

7 August 2026

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

DIVIDENDS

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

DIRECTORS

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

Miss T Madge

Mr M Chittenden

DONATIONS AND EXPENDITURE

The group made donations totalling £113 (2024: £150) to non-political charitable organisations during the year.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group 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;

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

Mr M Chittenden - Director

7 August 2026

Opinion

We have audited the financial statements of Heritage Rocks Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 31 December 2025 and of the group's 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 group 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 group's and the 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

The directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations, and that they remained alert to instances of non-compliance throughout the audit.

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:

- based on our understanding of the company and industry, and through discussions with directors and key management, we identified any specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; and

- we assessed the extent of compliance with these laws and regulations through making enquiries of management and inspecting legal correspondence.

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

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

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

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

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

- tested journal entries, particularly focused around the year-end, to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates in the notes to the financial statements 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.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

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.

Eric McIntyre (Senior Statutory Auditor)

for and on behalf of Cartwrights

Chartered Accountants and Business Advisors

Statutory Auditor

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

17 August 2026

TURNOVER

10,180,774

8,718,320

Cost of sales

(2,689,674

)

(2,484,458

)

GROSS PROFIT

7,491,100

6,233,862

Administrative expenses

(6,697,007

)

(5,474,440

)

794,093

759,422

Other operating income

1,000

-

OPERATING PROFIT

4

795,093

759,422

Interest receivable and similar income

70,375

72,174

865,468

831,596

Interest payable and similar expenses

5

(336,074

)

(396,311

)

PROFIT BEFORE TAXATION

529,394

435,285

Tax on profit

6

(254,261

)

(57,437

)

PROFIT FOR THE FINANCIAL YEAR

275,133

377,848

Profit attributable to:

Owners of the parent

275,133

377,848

PROFIT FOR THE YEAR

275,133

377,848

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

275,133

377,848

Total comprehensive income attributable to:

Owners of the parent

275,133

377,848

FIXED ASSETS

Intangible assets

9

295,727

492,876

Tangible assets

10

6,474,415

5,823,794

Investments

11

-

-

6,770,142

6,316,670

CURRENT ASSETS

Stocks

12

87,228

88,594

Debtors

13

6,767,389

6,363,550

Cash at bank and in hand

1,327,686

1,090,443

8,182,303

7,542,587

CREDITORS

Amounts falling due within one year

14

5,536,211

5,794,610

NET CURRENT ASSETS

2,646,092

1,747,977

TOTAL ASSETS LESS CURRENT LIABILITIES

9,416,234

8,064,647

CREDITORS

Amounts falling due after more than one year

15

(5,280,893

)

(4,451,807

)

PROVISIONS FOR LIABILITIES

19

(683,486

)

(436,118

)

NET ASSETS

3,451,855

3,176,722

CAPITAL AND RESERVES

Called up share capital

20

1,000

1,000

Revaluation reserve

21

1,716,640

1,716,640

Retained earnings

21

1,734,215

1,459,082

SHAREHOLDERS' FUNDS

3,451,855

3,176,722

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:

Mr M Chittenden - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

-

-

Investments

11

1,102

1,102

1,102

1,102

CURRENT ASSETS

Debtors

13

298,000

220,000

CREDITORS

Amounts falling due within one year

14

298,102

220,102

NET CURRENT LIABILITIES

(102

)

(102

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,000

1,000

CAPITAL AND RESERVES

Called up share capital

20

1,000

1,000

SHAREHOLDERS' FUNDS

1,000

1,000

Company's profit for the financial year

-

120,000

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:

Mr M Chittenden - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2024

1,000

1,331,234

1,716,640

3,048,874

Changes in equity

Dividends

-

(250,000

)

-

(250,000

)

Total comprehensive income

-

377,848

-

377,848

Balance at 31 December 2024

1,000

1,459,082

1,716,640

3,176,722

Changes in equity

Total comprehensive income

-

275,133

-

275,133

Balance at 31 December 2025

1,000

1,734,215

1,716,640

3,451,855

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

1,000

130,000

131,000

Changes in equity

Dividends

-

(250,000

)

(250,000

)

Total comprehensive income

-

120,000

120,000

Balance at 31 December 2024

1,000

-

1,000

Changes in equity

Balance at 31 December 2025

1,000

-

1,000

Cash flows from operating activities

Cash generated from operations

1

385,675

2,320,800

Interest paid

(330,094

)

(396,311

)

Interest element of hire purchase payments paid

(5,980

)

-

Tax paid

(21,985

)

(161,962

)

Net cash from operating activities

27,616

1,762,527

Cash flows from investing activities

Purchase of tangible fixed assets

(1,060,227

)

(753,784

)

Sale of intangible fixed assets

31,161

-

Sale of tangible fixed assets

346,059

-

Sale of fixed asset investments

(4,018

)

-

Interest received

70,375

72,174

Net cash from investing activities

(616,650

)

(681,610

)

Cash flows from financing activities

New loans in year

475,000

500,000

Loan repayments in year

(229,690

)

(250,434

)

Capital repayments in year

578,435

(708

)

Amount introduced by directors

595

-

Amount withdrawn by directors

1,937

(389,822

)

Equity dividends paid

-

(250,000

)

Net cash from financing activities

826,277

(390,964

)

Increase in cash and cash equivalents

237,243

689,953

Cash and cash equivalents at beginning of year

2

1,090,443

400,490

Cash and cash equivalents at end of year

2

1,327,686

1,090,443

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

31/12/25

31/12/24

£

£

Profit before taxation

529,394

435,285

Depreciation charges

567,216

605,520

Loss on disposal of fixed assets

36,339

4,018

Government grants

(1,000

)

-

Finance costs

336,074

396,311

Finance income

(70,375

)

(72,174

)

1,397,648

1,368,960

Decrease in stocks

1,366

6,069

Increase in trade and other debtors

(402,839

)

(779,543

)

(Decrease)/increase in trade and other creditors

(610,500

)

1,725,314

Cash generated from operations

385,675

2,320,800

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

1,327,686

1,090,443

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

1,090,443

413,350

Bank overdrafts

-

(12,860

)

1,090,443

400,490

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1/1/25

Cash flow

At 31/12/25

£

£

£

Net cash

Cash at bank and in hand

1,090,443

237,243

1,327,686

1,090,443

237,243

1,327,686

Debt

Finance leases

(28,560

)

(578,435

)

(606,995

)

Debts falling due within 1 year

(329,967

)

41,490

(288,477

)

Debts falling due after 1 year

(4,217,069

)

(286,800

)

(4,503,869

)

(4,575,596

)

(823,745

)

(5,399,341

)

Total

(3,485,153

)

(586,502

)

(4,071,655

)

1.	STATUTORY INFORMATION

Heritage Rocks Ltd 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 General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents the fair value of services rendered under contract to the extent that there is a right to consideration and is recorded at the value of the consideration due, net of trade discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when the amount of turnover can be measured reliably and conditions as stated in the contracts are satisfied. Where payments are received from customers in advance of service provided, the amounts are recorded as deferred income and included as part of creditors.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

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.

Long leasehold

-

10% on cost

Plant and machinery

-

25% on cost, 10% on cost and Straight line over 5 years

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost and 15% on cost

Computer equipment

-

25% on cost, 10% on cost and Straight line over 5 years

Investments in subsidiaries

Interest in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has applied the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. The assets of the scheme are held separately from those of the company in an independently administered fund.

3.	EMPLOYEES AND DIRECTORS

31/12/25

31/12/24

£

£

Wages and salaries

4,091,163

3,388,788

Social security costs

330,837

219,679

Other pension costs

21,987

18,008

4,443,987

3,626,475

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

31/12/25

31/12/24

Direct labour

219

190

Admin

7

10

226

200