REGISTERED NUMBER: 08516821 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2024 TO 31 AUGUST 2025

FOR

PHOENIX PLAY LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

5

Report of the Independent Auditors

7

Statement of Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Cash Flow Statement

14

Notes to the Cash Flow Statement

15

Notes to the Financial Statements

17

DIRECTOR:

J Collis-Pritchard

S Flatman

REGISTERED OFFICE:

6 Orpen Park

Ash Ridge Road

Bradley Stoke

Bristol

Gloucestershire

BS32 4QD

REGISTERED NUMBER:

08516821 (England and Wales)

AUDITORS:

Carter & Coley Limited

Chartered Accountants and Statutory Auditor

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

The director presents his strategic report for the period 1 March 2024 to 31 August 2025.

During this audit period, we successfully rebranded as Phoenix Play Limited with the aim of realigning with our core values and moralistic approach to all our practices. The company has also undergone an internal restructure and maintained shareholders and officers who exude our philosophy. We are proud to serve our long-established client base built on our quality offering and very much look forward to doing so under our new brand. The company is now also exploring working in new parts of the UK and delighted that new customers are recognising our unique and dedicated offering and choosing Phoenix Play to work with them to develop learning and play opportunities for their children. This has already led to growth. Alongside our commitment to innovation the quality and expertise we offer, ensure we are there to support the evolving needs of our customers while staying true to the core values have been the foundation of our business for the past 13 years.

REVIEW OF BUSINESS

1. Vision, Mission, and Core Values:

- Vision: To be the leading provider of play and learning environments to our chosen marketplaces. We have a passion to inspire children with a love for investigative learning and physical activity, fostering cognitive development and helping children to reach their full potential.

- Mission: To provide inspirational products, unrivalled customer service and a comprehensive range of services that meet the diverse needs of our clients in the educational and commercial marketplaces.

- Core Values: These are our 'Rules of Play.' These see us working fairly, collaboratively & morally with our customers, colleagues, and suppliers.

2. Market Overview:

During the financial year 2025 the educational market was settling after the election of the new Labour Govt. This led to some changes in priorities, as the birth rate across the UK had declined and funding formulas changing. This was especially so in London and other major Cities. Alongside this the new Govt white paper on SEND funding has offered up new opportunities as they look to develop more specialist learning environments for children - something the company specialises in. The Govt. has also embarked upon seed funding for school-based nurseries, as part of its changes to funding for families of babies and young children - again a specialism of the company. Settings across the UK are wanting high-quality well-designed learning environments for their children, Phoenix Play are the trusted partner for this.

3. Company Performance Analysis

3.1 Financial Performance - Since the internal restructure, the company has enjoyed progression towards its core values and thoughtful investment. The cost centres that were not meeting standards have been removed and all investment is focused on the betterment & future of the business and colleagues to build back better. The revenue generated by the company is still market leading.

3.2 Market Positioning - The company has positioned itself as a trusted partner to many the educational and commercial customers. Its primary differential factors include strong expertise, exceptional customer service and design innovation which have culminated in a reputation for providing safe, inspiring, and engaging environments. This has led to Phoenix play working with a loyal and growing customer base, securing regular returning and referred custom and making more play possible, for more children, more often.

3.3 Key Performance Indicator - The company gross margin for the period was 39.7% and we are confident that going forward this will rise back to above 40% in the coming period. The number of orders has also increased, as has customer satisfaction and customer enquiries, all reassuring data points, and promising signs for the future.

3.4 Exceptional costs - As detailed, within the period the business also carried significant additional exceptional costs, which saw spend increase substantially in comparison to any of the previous trading years. The ordinary activities the business has always conducted expertly and profitably, were executed well and on usual trading the period was characteristically profitable. When including the exceptional overheads together with the ordinary activities, the results saw the company being loss making for the first time in its history. However, the loss was easily absorbed by the strong company reserves and we are pleased to share that the company has already returned to profitability in the next financial period (Sep 25 - August 26) and now the officers in post are all wanting the company to succeed we will ensure we return to the strong results we have always achieved.

.

4. Principal Risks and Uncertainties:

The company reviews and monitors risks which could potentially impact the company's overall performance and our awareness of them helps us to plan to mitigate accordingly. Examples of these are: -

i) Changes in public spending could impact budgets for schools and local authorities which may lead to delayed or reduced spending on play equipment

ii) Ongoing global supply chain disruption and FX fluctuations which could affect the availability and cost of raw materials which may impact product pricing and project timelines

iii) The market for play equipment is competitive, with both established players and new entrants vying for market share. The company focuses on its innovation, expertise, core values, and ethos to ensure we are the best at what we do.

5. Summary

The company is well positioned to build on its existing strengths and explore new opportunities in a dynamic marketplace, that we are very familiar with. We can maximise by focusing on expanding into new geographical regions, driving exciting innovation, maintaining focused cost controls and by enhancing the customer experience. The company can continue its trajectory of growth by emphasis on sustainability and customer satisfaction. This will allow it to maintain its competitive advantage in years to come.

We are delighted that the rebranding has been well accepted across our chosen marketplaces. We are able to ensure that all of the company are completely aligned to our mission and values and whilst we continue to grow and adapt, we are remaining true to our core beliefs. We will continue to develop our brand that is both timeless and forward thinking whilst being trusted. Our customers can expect the same dedication to excellence they have always known, with an enhanced ideology that reflects our commitment to their learning through play spaces, for the benefit of their children.

ON BEHALF OF THE BOARD:

S Flatman - Director

24 August 2026

The director presents his report with the financial statements of the company for the period 1 March 2024 to 31 August 2025.

DIVIDENDS

31/08/2025

29/02/2024

£

£

Ordinary B shares of £1 each

Interim

252,599

539,000

Ordinary D shares of £1 each

Interim

-

-

Ordinary F shares of £1 each

Interim

9,266

2,000

Ordinary G shares of £1 each

Interim

9,267

50,000

Ordinary H shares of £1 each

Interim

32,750

Ordinary I shares of £1 each

10,000

Interim

7,400

Ordinary J shares of £1 each

Interim

5,500

281,132

636,650

DIRECTORS

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

J Collis-Pritchard

S Flatman

Other changes in directors holding office are as follows:

M R Bischof - resigned 17 March 2025

A Snell - resigned 17 March 2025

A Snell and M R Bischof ceased to be directors after 31 August 2025 but prior to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Carter & Coley Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S Flatman - Director

24 August 2026

Opinion

We have audited the financial statements of Phoenix Play Limited (the 'company') for the period ended 31 August 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 August 2025 and of its loss for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on pages five and six, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

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:

Extent to which the audit was considered capable of detecting irregularities, including fraud

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

Identification and assessment of potential risks

In identifying and assessing potential risks related to irregularities, including fraud and non-compliance with laws and regulations, we conducted:

- Meetings throughout the year with those charged with governance;

- Enquiries of management, including obtaining and reviewing supporting documentation, concerning material policies and procedures relating to: identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance relating to the detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

- Our reviews of the company's remuneration policies;

- Our assessment of any material transactions with related parties and key individuals; and

- Discussions among the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. The engagement team includes the Audit Partner and staff who have extensive experience of working in a similar industry, and this experience was relevant to the discussion about where fraud risks may arise.

Risks arising from legal and regulatory frameworks

We are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks in which the company operates, focusing on provisions of those areas that had a direct effect on the determination of material amounts and disclosures in the financial statements.

We did not identify any material audit matters related to the potential risk of fraud or non-compliance with laws and regulations from our work:

- Reviewing management override of controls;

- Testing the appropriateness of journal entries and other accounting adjustments;

- Assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and

- Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated our assessment of the relevant laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

Andrew A Clark FCA (Senior Statutory Auditor)

for and on behalf of Carter & Coley Limited

Chartered Accountants and Statutory Auditor

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

24 August 2026

TURNOVER

15,160,259

12,073,679

Cost of sales

8,899,709

7,326,072

GROSS PROFIT

6,260,550

4,747,607

Administrative expenses

6,514,185

4,105,775

(253,635

)

641,832

Other operating income

7,600

3,870

OPERATING (LOSS)/PROFIT

4

(246,035

)

645,702

Interest receivable and similar income

30,893

27,183

(215,142

)

672,885

Interest payable and similar expenses

5

12,236

8,680

(LOSS)/PROFIT BEFORE TAXATION

(227,378

)

664,205

Tax on (loss)/profit

6

(21,362

)

170,747

(LOSS)/PROFIT FOR THE FINANCIAL PERIOD

(206,016

)

493,458

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

(206,016

)

493,458

FIXED ASSETS

Tangible assets

8

331,564

464,002

Investments

9

1

1

331,565

464,003

CURRENT ASSETS

Stocks

10

344,613

436,647

Debtors

11

1,156,109

1,314,427

Prepayments and accrued income

522,048

326,517

Cash at bank

715,292

1,946,496

2,738,062

4,024,087

CREDITORS

Amounts falling due within one year

12

2,127,897

2,227,406

NET CURRENT ASSETS

610,165

1,796,681

TOTAL ASSETS LESS CURRENT LIABILITIES

941,730

2,260,684

CREDITORS

Amounts falling due after more than one year

13

(23,714

)

(122,421

)

PROVISIONS FOR LIABILITIES

17

(81,261

)

(114,360

)

NET ASSETS

836,755

2,023,903

CAPITAL AND RESERVES

Called up share capital

18

102

200

Capital redemption reserve

19

98

-

Retained earnings

19

836,555

2,023,703

SHAREHOLDERS' FUNDS

22

836,755

2,023,903

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2026 and were signed by:

S Flatman - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 March 2023

200

2,166,895

-

2,167,095

Changes in equity

Dividends

-

(636,650

)

-

(636,650

)

Total comprehensive income

-

493,458

-

493,458

Balance at 29 February 2024

200

2,023,703

-

2,023,903

Changes in equity

Issue of share capital

(98

)

-

-

(98

)

Dividends

-

(281,132

)

-

(281,132

)

Total comprehensive income

-

(206,016

)

-

(206,016

)

Repurchase of own shares

-

(700,000

)

98

(699,902

)

Balance at 31 August 2025

102

836,555

98

836,755

Cash flows from operating activities

Cash generated from operations

1

(168,566

)

1,354,438

Interest paid

(8,612

)

(5,251

)

Interest element of hire purchase payments paid

(3,624

)

(3,429

)

Tax paid

(176,960

)

(174,979

)

Net cash from operating activities

(357,762

)

1,170,779

Cash flows from investing activities

Purchase of tangible fixed assets

(73,492

)

(127,389

)

Purchase of fixed asset investments

-

(1

)

Interest received

30,893

27,183

Net cash from investing activities

(42,599

)

(100,207

)

Cash flows from financing activities

Loan repayments in year

(74,999

)

(50,000

)

HP repayments in year

(32,349

)

(31,611

)

Amount introduced by directors

257,637

414,757

Amount withdrawn by directors

-

(257,637

)

Share buyback

(700,000

)

-

Equity dividends paid

(281,132

)

(636,650

)

Net cash from financing activities

(830,843

)

(561,141

)

(Decrease)/increase in cash and cash equivalents

(1,231,204

)

509,431

Cash and cash equivalents at beginning of period

2

1,946,496

1,437,065

Cash and cash equivalents at end of period

2

715,292

1,946,496

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period

1/3/24

to

Year Ended

31/8/25

29/2/24

£

£

(Loss)/profit before taxation

(227,378

)

664,205

Depreciation charges

205,930

147,806

Loss on disposal of fixed assets

-

4,600

Finance costs

12,236

8,680

Finance income

(30,893

)

(27,183

)

(40,105

)

798,108

Decrease in stocks

92,034

198,972

(Increase)/decrease in trade and other debtors

(294,850

)

1,427,798

Increase/(decrease) in trade and other creditors

74,355

(1,070,440

)

Cash generated from operations

(168,566

)

1,354,438

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:

Period ended 31 August 2025

31/8/25

1/3/24

£

£

Cash and cash equivalents

715,292

1,946,496

Year ended 29 February 2024

29/2/24

1/3/23

£

£

Cash and cash equivalents

1,946,496

1,437,065

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/3/24

Cash flow

At 31/8/25

£

£

£

Net cash

Cash at bank

1,946,496

(1,231,204

)

715,292

1,946,496

(1,231,204

)

715,292

Debt

Finance leases

(46,753

)

32,349

(14,404

)

Debts falling due within 1 year

(50,000

)

-

(50,000

)

Debts falling due after 1 year

(95,832

)

74,999

(20,833

)

(192,585

)

107,348

(85,237

)

Total

1,753,911

(1,123,856

)

630,055

1.	STATUTORY INFORMATION

Phoenix Play Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

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.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

15% on reducing balance

Computer equipment

-

20% on cost

Stocks

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

Taxation

Taxation for the period 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 period 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 company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Joint ventures

Entities in which the company holds an interest and which are jointly controlled by the company and one or more other venturers under a contractual arrangement are treated as joint ventures. In the company's financial statements, joint ventures are accounted for using the cost model.

3.	EMPLOYEES AND DIRECTORS

Period

1/3/24

to

Year Ended

31/8/25

29/2/24

£

£

Wages and salaries

2,373,475

1,625,447

Social security costs

271,157

184,846

Other pension costs

51,704

85,192

2,696,336

1,895,485

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

Period

1/3/24

to

Year Ended

31/8/25

29/2/24

Staff

55

55

The directors have identified two (2024 - six) staff who are key employees in the company. Their remuneration including salary, employers NI and Pension total £156,271 (2024 - £342,588).

Period

1/3/24

to

Year Ended

31/8/25

29/2/24

£

£

Directors' remuneration

156,271

82,573

4.	OPERATING (LOSS)/PROFIT

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

Period

1/3/24

to

Year Ended

31/8/25

29/2/24

£

£

Hire of plant and machinery

162,273

125,226

Other operating leases

176,181

121,655

Depreciation - owned assets

191,126

126,152

Depreciation - assets on hire purchase contracts

14,804

21,653

Loss on disposal of fixed assets

-

4,600

Auditors' remuneration

20,500

11,250

Auditors' remuneration for non audit work

6,250

2,500

Foreign exchange differences

(6,066

)

5,836

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1/3/24

to

Year Ended

31/8/25

29/2/24

£

£

Bank loan interest

8,612

5,251

Hire purchase

3,624

3,429

12,236

8,680