REGISTERED NUMBER: SC509809 (Scotland)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 August 2025

for

Markey Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

10

Consolidated Income Statement

13

Consolidated Other Comprehensive Income

14

Consolidated Statement of Financial Position

15

Company Statement of Financial Position

16

Consolidated Statement of Changes in Equity

17

Company Statement of Changes in Equity

18

Consolidated Statement of Cash Flows

19

Notes to the Consolidated Statement of Cash Flows

20

Notes to the Consolidated Financial Statements

21

DIRECTORS:

M A Markey

Mrs M Markey

REGISTERED OFFICE:

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

REGISTERED NUMBER:

SC509809 (Scotland)

AUDITORS:

O'Haras Accountants Limited (Statutory Auditor)

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

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

The company's directors are happy with the group's financial performance.

REVIEW OF BUSINESS

Turnover has increased by 5.39% in the group from the previous year. The group has remained resilient to the challenges, particularly within the construction sector. New monitoring systems have been introduced to track financial, safety, quality and operational performance across the business.

The directors are aware of the very competitive nature of this industry and the requirement to ensure that contracts are priced competitively and realistically to allow the companies within the group to provide the quality and continuity of service which has become a hallmark of the brand.

PRINCIPAL RISKS AND UNCERTAINTIES

The group continues to experience a significant level of demand for its services within the residential sector. However, external factors such as limited public body spending along with uncertainty regarding energy, interest and inflation rates continue to influence the demand, cost and programme delivery of private and social housing schemes. These factors reduce the commercial opportunity within this market therefore the group is being more selective within this sector.

Additional measures are being explored to protect and provide further due diligence on the financial standing of potential clients, thus reducing the exposure to administration risk.

The directors remain very confident regarding the group's prospects and ambitions due to the diversification of workload and customer base.

SECTION 172(1) STATEMENT

The directors, in line with their duties under s172 of the Companies Act 2006, act in a way they consider, in good faith, would be most likely to promote the success of the group for the benefit of its members as a whole, and in doing so have regard to a number of matters, including:

-the likely consequences of any decision in the long term;

-the interests of the group's employees;

-the need to foster the group's business relationships with suppliers, customers and others.

-the impact that the group has on the community and the environment

-the desirability of the group to maintain a reputation for high standards of business conduct.

Key decisions and matters that are of strategic importance to the group are appropriately informed by s172 factors and as part of the board's decision-making process, we consider the potential impact of decisions on relevant stakeholders whilst also having regard to a number of broader factors listed above.

Engaging with stakeholders

The directors consider for the business to be successful it is dependent on the support of all its stakeholders as this will help it to deliver long-term sustainability. This includes:

Employees: We have an objective to maintain a competent and supported workforce. Our employees remain our greatest asset, with a skilled and motivated workforce key to achieving successful health, safety and environmental performance levels.

Customers: Our customers are key and we aim to deliver a high service to them. We work closely with the customer to meet their demands and ensure we provide the quality service they expect.

Suppliers: Our suppliers are important to the continued success of the group and we have built strong relationships with them.

FUTURE DEVELOPMENTS AND THE POSITION OF THE GROUP AT THE YEAR END

The group continues to remain competitive within its marketplace and has continued to secure contracts within the private housing sector.

In line with the new strategy, whilst remaining within private housing, works within other sectors are now being successfully secured and delivered. These sectors are both the Energy and General Civil Engineering marketplace. Akela is now recognised as a strong delivery partner in these sectors.

The Energy sector is a growing market with a very strong pipeline of opportunities to be delivered over the next 20-year period, to achieve both public and private carbon reduction goals.

The strategy to develop a balanced portfolio of contracts and workstreams across the 3 sectors is proving to be successful with a pipeline of work now secured. The largest of these schemes within the Energy sector will provide work and income over the next 5-year period.

Places have been secured on National Frameworks and Dynamic Purchasing Systems; these procurement routes are now providing new opportunities along with a new customer base. The tender evaluation process on these mechanisms includes a qualitative assessment and is therefore not fully reliant on the commercial element.

This diversification of workstreams, procurement routes and customer base will allow for any potential sectoral downturns whilst providing improved commercial returns. This puts Akela in an extremely strong position moving forward.

However, the directors will remain vigilant regarding all potential risks which are associated with all sectors of the construction industry.

ON BEHALF OF THE BOARD:

M A Markey - Director

28 August 2026

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

DIVIDENDS

An interim dividend of £14.36 per share was paid on 31 August 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 August 2025 will be £ 181,612 .

DIRECTORS

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

M A Markey

Mrs M Markey

DISABLED EMPLOYEES

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

ENGAGEMENT WITH EMPLOYEES

We have an objective to maintain a competent and supported workforce. Our employees remain our greatest asset, with a skilled and motivated workforce key to achieving successful health, safety and environmental performance levels.

Within the group, Tala Training provide and support the HSE department with a wide range of construction industry training relevant to the roles and responsibilities to be undertaken. Training needs will continue to be assessed to ensure employees have the necessary skills and information required to meet the requirements of the group and aid personal development.

STREAMLINED ENERGY AND CARBON REPORTING

This report relates to Akela Construction Ltd, the trading company and largest company within the group.

Area

Ref

KPI Description

2022-2023

2023-2024

2024-2025

Scope 1 Fuel Card Diesel

1.1

Fuel Card - Diesel Consumption (litres)

213,878

172,439

157,880

Scope 1 Fuel Card Diesel

1.2

Diesel (average biofuel blend) - litres (Gross CV) - kg CO2e Carbon conversion factor

2.557840

2.512790

2.570820

Scope 1 Fuel Card Diesel

1.3

Fuel Card - Diesel Carbon Emissions (kg CO2e) (using litres conversion)

547,065

433,302

405,881

Scope 1 Fuel Card Diesel

1.4

Diesel (average biofuel blend) Gross CV kWh/litre conversion factor

10.60700

10.51100

10.53100

Scope 1 Fuel Card Diesel

1.5

Fuel Card - Diesel Consumption kWh)

2,268,602

1,812,502

1,662,633

Scope 1 Fuel Card Diesel

1.6

Diesel (average biofuel blend) kWh (Gross CV) - kg CO2e conversion factor

0.24115

0.23902

0.24411

Scope 1 Fuel Card Diesel

1.7

Fuel Card - Diesel Carbon Emissions (kg CO2e) (using kWh conversion)

547,073

433,224

405,865

Area

Ref

KPI Description

2022-2023

2023-2024

2024-2025

Scope 1 Bulk Fuel Diesel

2.1

Bulk Fuel - Diesel Consumption (litres)

1,171,939

1,191,202

916,422

Scope 1 Bulk Fuel Diesel

2.2

Diesel (average biofuel blend) - litres (Gross CV) - kg CO2e Carbon conversion factor

2.557840

2.512790

2.570820

Scope 1 Bulk Fuel Diesel

2.3

Bulk Diesel - Diesel Carbon Emissions (kg CO2e) (using litres conversion)

2,997,632

2,993,240

2,355,956

Scope 1 Bulk Fuel Diesel

2.4

Diesel (average biofuel blend) Gross CV kWh/litre conversion factor

10.60700

10.51100

10.53100

Scope 1 Bulk Fuel Diesel

2.5

Bulk Diesel - Diesel Consumption kWh)

12,430,757

12,520,724

9,650,840

Scope 1 Bulk Fuel Diesel

2.6

Diesel (average biofuel blend) kWh (Gross CV) - kg CO2e conversion factor

0.24115

0.23902

0.24411

Scope 1 Bulk Fuel Diesel

2.7

Bulk Diesel - Diesel Carbon Emissions (kg CO2e) (using kWh conversion)

2,997,677

2,992,704

2,355,867

Area

Ref

KPI Description

2022-2023

2023-2024

2024-2025

Scope 1 Total Diesel

3.1

Total Diesel Consumption (litres)

1,385,817

1,363,641

1,074,302

Scope 1 Total Diesel

3.2

Diesel (average biofuel blend) - litres (Gross CV) - kg CO2e Carbon conversion factor

2.557840

2.512790

2.570820

Scope 1 Total Diesel

3.3

Total Diesel - Diesel Carbon Emissions (kg CO2e) (using litres conversion)

3,544,698

3,426,542

2,761,837

Scope 1 Total Diesel

3.4

Diesel (average biofuel blend) Gross CV kWh/litre conversion factor

10.60700

10.51100

10.53100

Scope 1 Total Diesel

3.5

Total Diesel - Diesel Consumption kWh)

14,699,359

14,333,226

11,313,473

Scope 1 Total Diesel

3.6

Diesel (average biofuel blend) kWh (Gross CV) - kg CO2e conversion factor

0.24115

0.23902

0.24411

Scope 1 Total Diesel

3.7

Total Diesel - Diesel Carbon Emissions (kg CO2e) (using kWh conversion)

3,544,750

3,425,928

2,761,732

Area

Ref

KPI Description

2022-2023

2023-2024

2024-2025

Scope 1 Petrol

4.1

Fuel Card - Petrol Consumption (litres)

5,747

11,104

14,962

Scope 1 Petrol

4.2

Petrol (average biofuel blend) - litres (Gross CV) - kg CO2e Carbon conversion factor

2.161850

2.084400

2.069160

Scope 1 Petrol

4.3

Fuel Card - Petrol Carbon Emissions (kg CO2e) (using litres conversion)

12,424

23,145

30,959

Scope 1 Petrol

4.4

Petrol (average biofuel blend) Gross CV kWh/litre conversion factor

9.51500

9.46800

9.42300

Scope 1 Petrol

4.5

Fuel Card - Petrol - Consumption (kWh)

54,680

105,132

140,986

Scope 1 Petrol

4.6

Petrol (average biofuel blend) - kWh (Gross CV) - kg CO2e Carbon conversion factor

0.22719

0.22013

0.21956

Scope 1 Petrol

4.7

Fuel Card - Petrol - Carbon Emissions (kg CO2e) (using KWh conversion)

12,423

23,143

30,955

Area

Ref

KPI Description

2022-2023

2023-2024

2024-2025

Scope 2 Electricity

5.1

Electricity Consumption (kWh)

143,016

105,679

109,077

Scope 2 Electricity

5.2

Electricity Carbon Emissions (kg CO2e)

27,656

21,881

19,307

Scope 2 Electricity

5.3

Electricity UK kg CO2e Carbon conversion factor

0.193380

0.207050

0.177000

Area

Ref

KPI Description

2022-2023

2023-2024

2024-2025

Scope 2 Natural Gas

6.1

Natural Gas Consumption (kWh)

41,902

36,179

37,820

Scope 2 Natural Gas

6.2

Natural Gas Carbon Emissions (kg CO2e)

7,649

6,617

6,920

Scope 2 Natural Gas

6.3

Natural Gas kWh (Gross CV) - KG CO2e

0.182540

0.182900

0.182960

Area

Ref

KPI Description

2022-2023

2023-2024

2024-2025

Scope 1 & 2 Carbon Emissions

7.1

Total Carbon Emissions (kg CO2e) (converting litres)

3,592,426

3,478,185

2,819,022

Scope 1 & 2 Carbon Emissions

7.2

Total Carbon Emissions (t CO2e) (converting litres)

3,592

3,478

2,819

Scope 1 & 2 Carbon Emissions

7.3

Total Carbon Emissions (kg CO2e)

3,592,478

3,477,568

2,818,913

Scope 1 & 2 Carbon Emissions

7.4

Total Carbon Emissions (t CO2e)

3,592

3,478

2,819

Area

Ref

KPI Description

2022-2023

2023-2024

2024-2025

Scope 1 & 2 Intensity Ratio 'Turnover'

8.1

Total Energy Consumption (kWh)

14,938,957

14,580,216

11,601,356

Scope 1 & 2 Intensity Ratio 'Turnover'

8.2

Total Green House Gas Emissions (kg CO2e)

3,592,478

3,477,568

2,818,913

Scope 1 & 2 Intensity Ratio 'Turnover'

8.3

Akela Construction Turnover (£)

35,630,335

27,634,965

26,879,759

Scope 1 & 2 Intensity Ratio 'Turnover'

8.4

Intensity Ratio - Turnover - Carbon (kg CO2e per £ turnover)

0.10083

0.12584

0.10487

Akela Construction Ltd provide civil engineering and groundworks solutions for housebuilders, main contractors, local authorities, public utilities and industry.

Akela have maintained certification with the internationally recognised management system standards:

BS EN ISO 14001:2015 Environmental; ISO 9001:2015 Quality; ISO 45001:2018 Occupational Health & Safety.

We seek to protect the environment and prevent pollution and implement objectives and targets to achieve this.

We have a programme of investment in plant, equipment, technology and staff in line with our policy commitments.

We have invested in vehicle telemetry systems to drive improvement in fuel consumption.

We are improving the fuel efficiency of plant and equipment, and proactively work with our supply chain to trial new technologies that have a positive environmental impact.

Our head office has been furbished with lighting and controls that minimise energy consumption and we are looking at onsite renewable energy solutions.

Akela are improving systems for environmental monitoring and reporting and focusing on audits to identify opportunities for continual improvement.

The data utilised for this report has been taken from invoices, meter readings and fuel card transactions. Carbon conversion factors are from the UK Government website which are updated annually in June. Akela Construction are reporting on Scope 1 and Scope 2 emissions in line with The Greenhouse Gas Protocol 2022.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he 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 group's auditors are aware of that information.

AUDITORS

The auditors, O'Haras Accountants Limited (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M A Markey - Director

28 August 2026

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

- We gained an understanding of the legal and regulatory framework applicable to the company and the construction industry in which it operates. We made enquiries of management as to whether there were any known or suspected instances of non-compliance with laws and regulations or fraud, and reviewed available board minutes for any indication of such matters.

- We gained an understanding of management's internal controls designed to prevent and detect irregularities in their day-to-day operations.

- We considered laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement components. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of relevant third parties.

- We considered how fraud might occur in this company and designed our tests accordingly.

- As in all audits, we also addressed the risk of management override of internal controls, including reviewing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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.

John O'Hara CA (Senior Statutory Auditor)

for and on behalf of O'Haras Accountants Limited (Statutory Auditor)

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

28 August 2026

REVENUE

34,809,217

33,029,742

Cost of sales

26,060,591

24,925,506

GROSS PROFIT

8,748,626

8,104,236

Administrative expenses

8,512,862

7,467,095

235,764

637,141

Other operating income

951,539

374,468

Gain/loss on revaluation of investments

168,156

178,043

OPERATING PROFIT

3

1,355,459

1,189,652

Income from shares in group undertakings

-

2,613

Interest receivable and similar income

435,560

605,473

435,560

608,086

1,791,019

1,797,738

Interest payable and similar expenses

4

144,293

166,129

PROFIT BEFORE TAXATION

1,646,726

1,631,609

Tax on profit

5

157,756

841,077

PROFIT FOR THE FINANCIAL YEAR

1,488,970

790,532

Profit attributable to:

Owners of the parent

1,488,970

790,532

PROFIT FOR THE YEAR

1,488,970

790,532

OTHER COMPREHENSIVE INCOME

Movement in minority interest

(114,592

)

(502,423

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(114,592

)

(502,423

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,374,378

288,109

Total comprehensive income attributable to:

Owners of the parent

1,373,969

162,034

Non-controlling interests

409

126,075

1,374,378

288,109

FIXED ASSETS

Intangible assets

8

39,280

39,280

Property, plant and equipment

9

9,385,455

10,956,402

Investments

10

Interest in associate

10

10

Other investments

4,899,370

5,299,217

Investment property

11

2,868,534

3,023,544

17,192,649

19,318,453

CURRENT ASSETS

Inventories

12

3,779,170

1,117,533

Debtors

13

6,631,099

8,435,839

Cash at bank and in hand

12,383,439

11,569,042

22,793,708

21,122,414

CREDITORS

Amounts falling due within one year

14

6,758,322

8,309,505

NET CURRENT ASSETS

16,035,386

12,812,909

TOTAL ASSETS LESS CURRENT LIABILITIES

33,228,035

32,131,362

CREDITORS

Amounts falling due after more than one year

15

(1,041,716

)

(1,168,102

)

PROVISIONS FOR LIABILITIES

17

(1,485,540

)

(1,455,365

)

NET ASSETS

30,700,779

29,507,895

CAPITAL AND RESERVES

Called up share capital

18

12,717

12,650

Share premium

19

(1,398,364

)

(1,398,364

)

Capital redemption reserve

19

50

50

Other reserves

19

(30,553

)

(30,553

)

Retained earnings

19

27,376,093

26,183,327

SHAREHOLDERS' FUNDS

25,959,943

24,767,110

NON-CONTROLLING INTERESTS

4,740,836

4,740,785

TOTAL EQUITY

30,700,779

29,507,895

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2026 and were signed on its behalf by:

M A Markey - Director