REGISTERED NUMBER: 04698955 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

SYCHEM LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

DIRECTORS:

Mrs T J Barnes

Mr M Barnes

Mr L Barnes

Mr R H Clarke

Mr A S Faulkner

Mr D A Harding

Mr C Wreyford

SECRETARY:

Mrs T J Barnes

REGISTERED OFFICE:

Units C2-C4 Adanac Drive

Nursling

Southampton

Hampshire

SO16 0AU

REGISTERED NUMBER:

04698955 (England and Wales)

SENIOR STATUTORY AUDITOR:

Graham Taylor

AUDITORS:

Shaw Gibbs (Audit) Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

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

Sychem Limited is a private limited company based in the UK that specializes in providing disinfection, sterilization, and decontamination solutions. With over 40 years of experience, the company serves a range of sectors, including healthcare, pharmaceuticals, and laboratories. Sychem's business model revolves around a comprehensive, end-to-end approach, which includes the supply of capital equipment (such as autoclaves and washer-disinfectors), specialist chemicals, and consumables, as well as providing UKAS-accredited validation, maintenance, and aftersales support.

REVIEW OF BUSINESS

Market constraints made the market for capital projects challenging for Sychem throughout the year however, the need for maintenance and service by its customers increased during the year.

With the variability of capital projects the business has made it's key focus on the growth of it's service offerings in all of the market place that it is active in.

PRINCIPAL RISKS AND UNCERTAINTIES

Regulatory risk

The group's products and machines are manufactured to the highest quality standards to maintain industry accreditations and comply with all relevant laws and licenses.

Quality management is therefore a key priority for the business and regular monitoring is carried out. Any failings could lead to litigation and reputational damage.

The company has rigorous recruitment procedures to ensure technical staff and engineers have the appropriate qualifications and experience. Ongoing training programmes are in place.

Economic conditions and government policy

Customer appetite for capital investment will be partly influenced by macro economic factors such as interest rates,availability of finance, political stability and government tax policy.

The company manages its exposure to foreign exchange fluctuations by taking out hedging contracts where suitable.

Competition

The company remains ever alert to new entrants to the market.

The company prides itself on its reputation with customers and suppliers and by maintaining good relations throughout the supply chain, the group is able to offer an excellent level of service to clients thereby ensuring repeat custom.

Bank funding

The company does utilise bank funding for capital investment or short term working capital requirements. It maintains a good relationship with the bank and ensures that it meets it obligations under any covenant agreements.

FUTURE DEVELOPMENTS

The company will continue to work with it's extensive customer base to deliver capital projects, repair services and consumables. The residual supply of medical equipment left over from the closure of a fellow subsidiary, Sychem Surgical Limited, had been transferred to Sychem Ltd during the previous period.

Sychem continues to look for opportunities to drive growth and expand its operations in strategic locations.

KEY PERFORMANCE INDICATORS

The key performance indicators of the company are:

Turnover increased by 1.4% (2024: decreased by 16.3%)

Gross profit margin 55.4% (2024: 51.7%)

EBITDA - profit of £101,557 (2024: loss of £188,861)

Shareholders funds increased by 3.3% (2024: decreased by 28.6%)

ON BEHALF OF THE BOARD:

Mr A S Faulkner - Director

26 August 2026

The directors present their report with the financial statements of the company 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.

Mrs T J Barnes

Mr M Barnes

Mr L Barnes

Mr R H Clarke

Mr A S Faulkner

Mr D A Harding

Mr C Wreyford

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Shaw Gibbs (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr A S Faulkner - Director

26 August 2026

Opinion

We have audited the financial statements of Sychem Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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:

As part of our audit planning procedures we identify the significant laws and regulations applicable to the company based upon our knowledge of the company, the industry in which it operates and from making enquiries with management. We consider those laws and regulations where non-compliance may have a material effect on the financial statements and those which have a direct impact on the financial statements. We identified that the most significant laws and regulations applicable during the year were compliance with the requirements of the Companies Act 2006 and compliance with Health and Safety regulations.

Audit procedures performed by the engagement team in relation to laws and regulations included making enquiries of management as to any known or suspected instances of non-compliance, maintaining awareness throughout the course of the audit as to any indications of instances of non-compliance, undertaking a review of the accident logs, reviewing legal and professional invoices and undertaking a review of the disclosures in the financial statements to supporting information and to disclosure checklists.

We also consider areas that are at a higher risk of causing material misstatement in the financial statements due to irregularities, including those resulting from fraud and how such fraud may occur. We discuss with senior management the key controls in place to mitigate the risk of fraud and enquire as to whether they are aware of, or suspect, any fraudulent activities having taken place.

Throughout the audit, we maintain an appropriate level of professional scepticism when provided with information and explanations. We consider the appropriateness of significant accounting journals that were processed during the year, assess the reasonableness of any significant accounting estimates and consider whether there were any indications of bias by management during the year that represents a risk of material misstatement due to fraud. We also carry out analytical procedures to identify any unusual or unexpected variances to expectations as these may be an indication of management over-ride or management bias.

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.

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.

Graham Taylor (Senior Statutory Auditor)

for and on behalf of Shaw Gibbs (Audit) Limited

Statutory Auditor

Fleming Court

Leigh Road

Eastleigh

Southampton

Hampshire

SO50 9PD

27 August 2026

TURNOVER

4

10,605,284

10,459,603

Cost of sales

4,725,130

5,050,584

GROSS PROFIT

5,880,154

5,409,019

Distribution costs

21,857

23,747

Administrative expenses

5,836,865

5,686,927

5,858,722

5,710,674

OPERATING PROFIT/(LOSS)

6

21,432

(301,655

)

Interest receivable and similar income

18

1,836

21,450

(299,819

)

Interest payable and similar expenses

8

19,128

16,348

PROFIT/(LOSS) BEFORE TAXATION

2,322

(316,167

)

Tax on profit/(loss)

9

(57,940

)

(25,004

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

60,262

(291,163

)

FIXED ASSETS

Intangible assets

10

40,273

49,484

Tangible assets

11

300,011

423,380

340,284

472,864

CURRENT ASSETS

Stocks

12

1,279,893

1,310,254

Debtors

13

1,799,910

2,532,936

Cash at bank

80,905

125,803

3,160,708

3,968,993

CREDITORS

Amounts falling due within one year

14

1,526,837

2,412,152

NET CURRENT ASSETS

1,633,871

1,556,841

TOTAL ASSETS LESS CURRENT LIABILITIES

1,974,155

2,029,705

CREDITORS

Amounts falling due after more than one year

15

-

(86,764

)

PROVISIONS FOR LIABILITIES

17

(72,634

)

(101,682

)

NET ASSETS

1,901,521

1,841,259

CAPITAL AND RESERVES

Called up share capital

18

2,000

2,000

Retained earnings

19

1,899,521

1,839,259

SHAREHOLDERS' FUNDS

1,901,521

1,841,259

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:

Mr A S Faulkner - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

2,000

2,130,422

2,132,422

Changes in equity

Total comprehensive income

-

(291,163

)

(291,163

)

Balance at 31 December 2024

2,000

1,839,259

1,841,259

Changes in equity

Total comprehensive income

-

60,262

60,262

Balance at 31 December 2025

2,000

1,899,521

1,901,521

1.	STATUTORY INFORMATION

Sychem 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

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.

Significant judgements and estimates

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

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Development costs are being amortised evenly over their estimated useful life of nil 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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

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

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

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

Research and development

Research & Development costs are capitalised and amortised over the anticipated earning period of the technology commencing in the year in which the first revenues are received.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all 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.

Basic financial assets:

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities:

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financing liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment 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.

Contract revenue and work-in-progress

Contract revenue is recognised when the revenue can be separated from the sale of goods and the outcome of the contract can be estimated reliably. Costs initially incurred securing the contract are expensed to the profit and loss account.

The extent to which contract revenue is recognised is dependent upon the stage of completion. The company recognises revenue based on the physical proportion of the contact completed. At such time this cannot be measured reliably, the company recognises revenue to the extent contract costs are incurred.

Amounts due from customers for contract work is recorded as work-in-progress and included within trade and other debtors. Amounts due to customers for contract work is recorded as deferred income and included in trade and other creditors.

4.

TURNOVER

The turnover and profit (2024 - loss) before taxation are attributable to the one principal activity of the company.

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

2025

2024

£

£

Servicing

4,671,630

4,373,841

Consumables and cleaning

2,105,547

1,663,926

Equipment sales

3,828,107

4,421,836

10,605,284

10,459,603

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,872,963

2,808,130

Social security costs

401,371

339,519

Other pension costs

97,571

244,846

3,371,905

3,392,495

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

2025

2024

Employees

63

66

2025

2024

£

£

Directors' remuneration

414,847

421,708

Directors' pension contributions to money purchase schemes

19,520

61,333

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

Money purchase schemes

3

5

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

169,600

123,890

Pension contributions to money purchase schemes

7,200

7,200

6.	OPERATING PROFIT/(LOSS)

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

2025

2024

£

£

Hire of plant and machinery

9,280

13,560

Depreciation - owned assets

42,766

51,351

Depreciation - assets on hire purchase contracts

29,512

53,989

Profit on disposal of fixed assets

(1,382

)

(2,854

)

Goodwill amortisation

8,220

8,221

Patents and licences amortisation

991

-

Auditors' remuneration

19,816

20,500

Auditors' remuneration for non audit work

(11,835

)

33,841

7.	EXCEPTIONAL ITEMS

2025

2024

£

£

Loan write off

-

(66,130

)

In the previous year a loan to the value of £66,130 due from a group company was written off.

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Interest on tax

6,178

-

Hire purchase

12,950

16,348

19,128

16,348

9.

TAXATION

Analysis of the tax credit

The tax credit on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

7,228

-

Over/under provision of

corporation tax in prior years

(36,120

)

-

Total current tax

(28,892

)

-

Deferred tax

(29,048

)

(25,004

)

Tax on profit/(loss)

(57,940

)

(25,004

)

10.	INTANGIBLE FIXED ASSETS

Patents

and

Development

Goodwill

licences

costs

Totals

£

£

£

£

COST

At 1 January 2025

and 31 December 2025

164,405

19,722

147,411

331,538

AMORTISATION

At 1 January 2025

134,643

-

147,411

282,054

Amortisation for year

8,220

991

-

9,211

At 31 December 2025

142,863

991

147,411

291,265

NET BOOK VALUE

At 31 December 2025

21,542

18,731

-

40,273

At 31 December 2024

29,762

19,722

-

49,484

11.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2025

526,616

83,031

323,170

932,817

Disposals

-

-

(122,380

)

(122,380

)

At 31 December 2025

526,616

83,031

200,790

810,437

DEPRECIATION

At 1 January 2025

325,988

50,172

133,277

509,437

Charge for year

30,094

4,929

37,255

72,278

Eliminated on disposal

-

-

(71,289

)

(71,289

)

At 31 December 2025

356,082

55,101

99,243

510,426

NET BOOK VALUE

At 31 December 2025

170,534

27,930

101,547

300,011

At 31 December 2024

200,628

32,859

189,893

423,380

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

Motor

vehicles

£

COST

At 1 January 2025

269,920

Disposals

(122,380

)

At 31 December 2025

147,540

DEPRECIATION

At 1 January 2025

110,999

Charge for year

29,512

Eliminated on disposal

(71,289

)

At 31 December 2025

69,222

NET BOOK VALUE

At 31 December 2025

78,318

At 31 December 2024

158,921

12.

STOCKS

2025

2024

£

£

Stocks

1,216,020

993,485

Work-in-progress

63,873

316,769

1,279,893

1,310,254