REGISTERED NUMBER: 05640361 (England and Wales)

DANIEL CHARLES CONSTRUCTION LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

Page

Company Information

1

Strategic Report

2

to

3

Report of the Directors

4

Report of the Independent Auditors

5

to

7

Income Statement

8

Other Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

to

19

DIRECTORS:

D Ingall

Mrs J S Skelton

Mrs C M Heath

SECRETARY:

D Ingall

REGISTERED OFFICE:

Honeywood Barn

Honeyholes Lane

Dunholme

Lincoln

Lincolnshire

LN2 3SU

REGISTERED NUMBER:

05640361 (England and Wales)

SENIOR STATUTORY AUDITOR:

Sally-Anne Hurn FCA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

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

REVIEW OF BUSINESS

The results for the year and financial position of the company are as shown in the annexed financial statements.

2025

2024

2023

2022

2021

£

£

£

£

£

Turnover

23,233,876

26,770,373

27,200,920

26,618,224

19,435,235

Cost of sales

19,796,142

23,031,834

23,780,332

22,620,000

16,651,778

Gross Profit

3,437,734

3,738,539

3,420,588

3,998,224

2,783,457

Gross profit margin %

14.79

13.97

12.58

15.02

14.32

Profit on ordinary activities before taxation

564,507

1,076,788

779,258

1,867,459

1,201,816

% of profit on ordinary activities before taxation

2.43

4.02

2.94

7.02

6.18

The company traded well during the year and continued to benefit from its strong reputation and long-standing customer relationships. Turnover reduced during the year, reflecting wider economic conditions and increased customer caution when progressing projects. Gross profit margin improved compared with the previous two years; however, profit on ordinary activities before taxation reduced, primarily as a result of the lower turnover.

Looking ahead to 2026 and beyond, the Directors remain positive about the company's prospects and expect the business to continue performing well, supported by its strong operational foundation and established reputation in the market. The company has an extremely strong forward workload with both existing and new customers, and the Directors are confident that turnover will return to previous levels.

The company's operations and assets are well diversified and as such the levels of operational and other risks are considered by the Directors to be acceptable. The company does not have any material exposure to any high-risk markets or geographical areas.

Position at the balance sheet date

The Directors consider the company to be in a solid financial position at the financial position date, with accumulated reserves of approximately £4.1 million.

Management remains mindful of the competitive environment in which the company operates and the need to maintain close control over the company's working capital and financial position.

Borrowings and Risk Management

The company's principal financial instruments comprise bank balances, trade creditors and trade debtors. These instruments are primarily used to finance the company's operations and to support capital investment in plant and machinery. The company's approach to managing other risks applicable to the financial instruments minimised the risk to a level that the Directors consider acceptable.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers, regular monitoring of outstanding receivables, including ageing analysis and credit limits and prompt follow-up on overdue accounts.

Trade creditors liquidity risk is managed by ensuring sufficient cash reserves are available to meet amounts due by continuous monitoring of cashflow and working capital requirements.

PRINCIPAL RISKS AND UNCERTAINTIES

The company is affected by a number of factors, the principal ones of which are:

- The company is exposed to the risk of negative developments in financial markets and the sectors in which it operates, either directly or through the impact on the company's bankers, suppliers or customers. These developments can result in recession, inflation, deflation, restrictions in the availability of credit, impact on demand from customers, problems in the supplier base, increases in financing costs or in the cost of utilities and raw materials. Such developments might increase operating costs, reduce revenues, lower asset values or result in the businesses being unable to meet in full its strategic objectives.

- The company operates in a competitive market. Inability to compete effectively on key factors such as price, product specification, quality and customer service can have an adverse effect on demand and profitability.

To manage and reduce the impact of these risks, the company has implemented the following measures:

- An organisational structure with clearly defined lines of responsibility and delegation of authority. There are established policies and procedures for the setting of corporate strategies; financial planning and budgeting; for information and reporting systems; for systems of operational and financial internal control; for assessment of risk; and for monitoring operations and performance.

- Management and staff who engage closely with customers and suppliers to ensure efficiency, responsiveness, and innovation. These strong working relationships and open communication channels help mitigate operational risk and promote stability.

- A recruitment and selection process to ensure employees are experienced and competent in their work. Ongoing training programs support staff in delivering high standards and adapting to customer needs.

FUTURE DEVELOPMENTS

The company's strategy is to pursue continued organic growth by leveraging its existing business model. The management team remains focused on enhancing operational efficiency, maintaining high service standards and strengthening relationships with existing clients. Investment will continue in key areas such as staff development, machinery, technology, and process improvement to support sustainable growth.

ON BEHALF OF THE BOARD:

D Ingall - Director

26 August 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of civil engineering and construction.

DIVIDENDS

The directors recommend that no final dividends be paid.

The total distribution of dividends for the year 30 November 2025 will be £Nil.

DIRECTORS

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

D Ingall

Mrs J S Skelton

Other changes in directors holding office are as follows:

Mrs C M Heath was appointed as a director after 30 November 2025 but prior to the date of this report.

P J Sidebottom ceased to be a director after 30 November 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

D Ingall - Director

26 August 2026

Opinion

We have audited the financial statements of Daniel Charles Construction Limited (the 'company') for the year ended 30 November 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, 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 30 November 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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

The potential impact of different laws and regulations varies considerably. Firstly the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statement audit. This included the identification and testing of unusual material journal entries and challenging management on key estimates, assumptions and judgements made in the preparation of the financial statements. These areas of uncertainty are disclosed in the accounting policies.

Secondly the company is subject to other laws and regulations where the consequence for non-compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations and Employment laws.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection. This inspection included a review of the health and safety audits conducted within the year for any evidence of non-compliance, in addition to an assessment of the company's employment and health and safety controls. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions or the override of internal controls.

We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Sally-Anne Hurn FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

26 August 2026

TURNOVER

23,233,876

26,770,373

Cost of sales

19,796,142

23,031,834

GROSS PROFIT

3,437,734

3,738,539

Administrative expenses

2,856,136

2,588,641

581,598

1,149,898

Other operating income

100,878

49,810

OPERATING PROFIT

5

682,476

1,199,708

Interest receivable and similar income

6

9,448

13,596

691,924

1,213,304

Interest payable and similar expenses

7

127,417

136,516

PROFIT BEFORE TAXATION

564,507

1,076,788

Tax on profit

8

(33,148

)

95,776

PROFIT FOR THE FINANCIAL YEAR

597,655

981,012

PROFIT FOR THE YEAR

597,655

981,012

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

597,655

981,012

FIXED ASSETS

Tangible assets

10

3,169,130

3,578,538

CURRENT ASSETS

Debtors

11

5,139,382

5,400,983

Cash at bank and in hand

1,525,973

2,294,148

6,665,355

7,695,131

CREDITORS

Amounts falling due within one year

12

4,032,677

5,805,348

NET CURRENT ASSETS

2,632,678

1,889,783

TOTAL ASSETS LESS CURRENT LIABILITIES

5,801,808

5,468,321

CREDITORS

Amounts falling due after more than one year

13

(914,305

)

(1,076,342

)

PROVISIONS FOR LIABILITIES

16

(755,901

)

(858,032

)

NET ASSETS

4,131,602

3,533,947

CAPITAL AND RESERVES

Called up share capital

17

2

2

Retained earnings

18

4,131,600

3,533,945

SHAREHOLDERS' FUNDS

4,131,602

3,533,947

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2026 and were signed on its behalf by:

D Ingall - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 December 2023

2

3,224,188

3,224,190

Changes in equity

Dividends

-

(671,255

)

(671,255

)

Total comprehensive income

-

981,012

981,012

Balance at 30 November 2024

2

3,533,945

3,533,947

Changes in equity

Total comprehensive income

-

597,655

597,655

Balance at 30 November 2025

2

4,131,600

4,131,602

1.	STATUTORY INFORMATION

Daniel Charles Construction 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The company has taken advantage of the following disclosure exemption 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis and are covered within the accounting policies:

1) The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual value of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 10 for the carrying amount of the property, plant and equipment and note 2 (Tangible Fixed Assets) for the useful economic lives for each class of asset.

2) The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, ageing profile of debtors and historical experience. See note 11 for the net carrying amount of the debtors and associated impairment provision.

Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover, exclusive of value added tax, is recognised on contracts where the company has obtained a right to the consideration. Turnover recognised in this manner is based on an assessment of the fair value of the goods and services provided at the date of financial position as a proportion of the total value of the engagement. Provision is made against unbilled amounts on those engagements where the right to receive payment is contingent on factors outside the control of the company. Turnover, which at the financial reporting date have not been billed, are recognised as amounts recoverable on contracts.

In respect of long term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced and is recognised by reference to the stage of completion.

Interest Receivable

Interest income is recognised on a basis when it is received by the company. Any material balances received post year end have been reviewed and included if applicable.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance and 15% on reducing balance

Computer equipment

-

30% on reducing balance

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

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position. 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 the income statement over the relevant period. The capital element of the future payment is treated as a liability.

Rentals paid under operating leases are charged to the income statement 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 the income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

5,184,802

5,192,468

Social security costs

653,786

564,781

Other pension costs

116,497

114,257

5,955,085

5,871,506

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

2025

2024

Direct

82

82

Admin

40

39

122

121

4.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

168,442

164,002

Directors' pension contributions to money purchase schemes

4,403

4,403

5.	OPERATING PROFIT

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

2025

2024

£

£

Depreciation - owned assets

375,860

269,578

Depreciation - assets on hire purchase contracts

601,455

771,125

Profit on disposal of fixed assets

(15,539

)

(208,843

)

Auditors' remuneration

11,850

11,180

Operating lease payments to holding company

269,217

269,217

6.

INTEREST RECEIVABLE AND SIMILAR INCOME

2025

2024

£

£

Deposit account interest

7,856

13,596

HMRC interest receivable

1,592

-

9,448

13,596

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Hire purchase interest

127,417

136,516

8.

TAXATION

Analysis of the tax (credit)/charge

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

2025

2024

£

£

Current tax:

UK corporation tax

68,983

145,102

Deferred tax

(102,131

)

(49,326

)

Tax on profit

(33,148

)

95,776

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

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

2025

2024

£

£

Profit before tax

564,507

1,076,788

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

141,127

269,197

Effects of:

Expenses not deductible for tax purposes

2,100

603

Depreciation in excess of capital allowances

100,531

18,119

Group relief

(174,775

)

(174,222

)

Temporary timing differences

(102,131

)

(49,326

)

Chargeable gains

-

31,405

Total tax (credit)/charge

(33,148

)

95,776

9.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

-

671,255

10.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 December 2024

5,186,020

79,796

1,886,261

76,749

7,228,826

Additions

288,991

59,508

231,087

9,740

589,326

Disposals

-

-

(118,315

)

-

(118,315

)

At 30 November 2025

5,475,011

139,304

1,999,033

86,489

7,699,837

DEPRECIATION

At 1 December 2024

2,784,375

4,816

817,451

43,646

3,650,288

Charge for year

646,282

20,360

300,003

10,670

977,315

Eliminated on disposal

-

-

(96,896

)

-

(96,896

)

At 30 November 2025

3,430,657

25,176

1,020,558

54,316

4,530,707

NET BOOK VALUE

At 30 November 2025

2,044,354

114,128

978,475

32,173

3,169,130

At 30 November 2024

2,401,645

74,980

1,068,810

33,103

3,578,538

The net book value of tangible fixed assets includes £ 1,992,073 (2024 - £ 2,940,134 ) in respect of assets held under hire purchase contracts.

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,872,596

3,141,195

Amounts owed by group undertakings

1,115,485

600,188

Amounts recoverable on contract

1,826,388

1,634,564

Other debtors

5,218

918

VAT

276,253

-

Prepayments and accrued income

43,442

24,118

5,139,382

5,400,983

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 14)

992,440

1,264,056

Trade creditors

2,302,723

3,162,500

Amounts owed to group undertakings

218,879

407,588

Taxation

68,983

95,102

Other taxes and social security

137,663

154,181

VAT

-

106,364

Other creditors

25,117

25,328

Directors' loan accounts

26

99

Accruals and deferred income

286,846

590,130

4,032,677

5,805,348

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.