REGISTERED NUMBER: NI618550 (Northern Ireland)

MCAULEY FABRICATION LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTORS:

J McAuley

R McAuley

D Condell

REGISTERED OFFICE:

21 Ballymena Road

BALLYMONEY

Co. Antrim

BT53 7EX

REGISTERED NUMBER:

NI618550 (Northern Ireland)

AUDITORS:

McAleer Jackson Ltd

Chartered Accountants & Statutory Auditors

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

BANKERS:

Danske Bank

6 Shipquay Place

LONDONDERRY

Co. Londonderry

BT48 6DF

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

REVIEW OF BUSINESS

The results for the year and the financial position at the year end are as set out in the annexed financial statements.

The turnover reported in the financial statements of £11.6m represents an increase in turnover, however there has been a decrease in gross profit due to inflationary pressures thar has contributed to a decrease in operating profitability.

The directors view the outlook for the company with confidence.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have identified the following areas of risk and uncertainty:

Supply chain and logistics:

The directors are satisfied that the arrangements the company has in place with key suppliers are adequate to mitigate the risk of interrupted supply.

Environmental risk:

The directors recognise the potential environmental risks arising from the company's operations and invests resources to ensure the company maintains all necessary environmental standards and manages the risk effectively.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The company's activities expose it to a number of financial risks including commodity price risk, liquidity risk, credit risk and currency risk.

Commodity price risk:

The company uses materials which are exposed to commodity price risk. The directors take measures to protect against short term fluctuations in price, including maintaining strong supplier relationships and active stock management.

Credit risk:

The company's principal credit risk is in respect of customer credit arrangements which are managed through strict credit control arrangements and procedures.

Liquidity risk:

The company finances its working capital with its own cash reserves and bank facilities. Adequate balances and facilities are maintained to mitigate short and medium term liquidity risk.

Currency risk:

The company actively trades in both sterling and euro. Where possible euro cash inflows and outflows are matched. The directors take an active role in managing the currency exposure remains within acceptable levels.

The directors review and agrees policies for managing each of the above risks.

KEY PERFORMANCE INDICATORS (KPIS)

Given the nature of the business, the directors view the principle KPIs of the business to be growth in turnover and gross profit.

The key performance indicators of the company are set out below:

2025

2024

Turnover

£11.6m

£9.4m

Gross profit margin

25.86%

31.50%

ON BEHALF OF THE BOARD:

J McAuley - Director

10 July 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of precision engineering.

DIVIDENDS

A dividend of £Nil was paid during the year. (2024 - £100,000).

FUTURE DEVELOPMENTS

The directors do not foresee any future developments in the forthcoming year outside of normal trading.

POST BALANCE SHEET EVENTS

There have been no significant events affecting the Company since the year end.

DIRECTORS

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

J McAuley

R McAuley

D Condell

POLITICAL AND CHARITABLE CONTRIBUTIONS

The company made charitable donations amounting to £42,145 during the period (2024 - £15,379). No donations for political purposes were made during the period.

DIRECTORS' RESPONSIBILITIES STATEMENT

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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, McAleer Jackson Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J McAuley - Director

10 July 2026

Opinion

We have audited the financial statements of McAuley Fabrication Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of 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 Directors' Responsibilities Statement 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.

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 further 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.

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:

We obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, pensions and tax legislation, environmental regulations and health and safety laws, together with provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

We tailored our response to those identified risks to include enquiring of management and external legal advisors concerning actual and potential litigation and claims, performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, and reviewing correspondence with tax authorities and other regulatory bodies.

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias, and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business. We apply professional scepticism throughout the audit to consider deliberate omission or concealment of significant transactions, or incomplete/inaccurate disclosures in the financial statements.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the company's remuneration policies, and performance targets;

- results of our enquiries of management and other key persons about the company's own policies for theidentification and assessment of the risks of irregularities, including those that may occur either as a result of fraud or error, and matters we identified from our review of the company's policies, procedures and internal controls; and

- the matters discussed among the audit engagement team regarding potential indicators of fraud and where it might occur in the financial statements;

- design of audit procedures responsive to those risks that incorporate unpredictability around the nature, timing and extent of our testing.

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.

MICHAEL BARNETT (Senior Statutory Auditor)

for and on behalf of McAleer Jackson Ltd

Chartered Accountants & Statutory Auditors

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

10 July 2026

TURNOVER

11,637,746

9,367,918

Cost of sales

8,627,515

6,417,416

GROSS PROFIT

3,010,231

2,950,502

Administrative expenses

2,418,225

2,244,657

592,006

705,845

Other operating income

175,813

24,193

OPERATING PROFIT

4

767,819

730,038

Interest receivable and similar income

1,760

259

769,579

730,297

Interest payable and similar expenses

5

195,154

126,467

PROFIT BEFORE TAXATION

574,425

603,830

Tax on profit

6

147,166

11,585

PROFIT FOR THE FINANCIAL YEAR

427,259

592,245

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

427,259

592,245

FIXED ASSETS

Intangible assets

8

-

-

Tangible assets

9

2,986,570

2,779,141

Investment property

10

545,863

260,286

3,532,433

3,039,427

CURRENT ASSETS

Stocks

11

1,510,637

1,219,385

Debtors

12

3,243,975

2,326,452

Cash at bank and in hand

380,470

28,588

5,135,082

3,574,425

CREDITORS

Amounts falling due within one year

13

3,759,768

2,364,355

NET CURRENT ASSETS

1,375,314

1,210,070

TOTAL ASSETS LESS CURRENT LIABILITIES

4,907,747

4,249,497

CREDITORS

Amounts falling due after more than one year

14

(1,155,320

)

(1,199,407

)

PROVISIONS FOR LIABILITIES

18

(510,091

)

(363,060

)

ACCRUALS AND DEFERRED INCOME

19

(128,047

)

-

NET ASSETS

3,114,289

2,687,030

CAPITAL AND RESERVES

Called up share capital

20

800

800

Share premium

21

630,575

630,575

Preference shares

21

400,000

400,000

Retained earnings

21

2,082,914

1,655,655

SHAREHOLDERS' FUNDS

3,114,289

2,687,030

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2026 and were signed on its behalf by:

J McAuley - Director

D Condell - Director

Called up

share

Retained

Share

Preference

Total

capital

earnings

premium

shares

equity

£

£

£

£

£

Balance at 1 January 2024

800

1,163,410

630,575

400,000

2,194,785

Changes in equity

Dividends

-

(100,000

)

-

-

(100,000

)

Total comprehensive income

-

592,245

-

-

592,245

Balance at 31 December 2024

800

1,655,655

630,575

400,000

2,687,030

Changes in equity

Total comprehensive income

-

427,259

-

-

427,259

Balance at 31 December 2025

800

2,082,914

630,575

400,000

3,114,289

1.	STATUTORY INFORMATION

McAuley Fabrication Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the Company.

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.

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 formation of the business in 2013, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

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.

Improvements to leasehold property - 25 years straight line

Plant & machinery - 5 to 10 years straight line

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks and work in progress

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

Work in progress comprises costs relating to ongoing manufacturing of products. Costs include direct materials, direct labour and an allocation of production overheads. Values of work in progress are determined using managements assessment of costs applicable to the stage of production of products at the balance sheet date.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Hire purchase and leasing commitments

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

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

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

Pension costs and other post-retirement benefits

The 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.

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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Going concern

At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Grant income

Grants related to expenditure are credited to the Profit and Loss account as the expenditure is incurred.

Capital grants received and are treated as deferred income and amortised to the Profit and Loss account annually over the useful economic life of the asset to which it relates. When the possibility of clawback is remote and in the interests of accurately stating the company's liabilities, the directors may consider it appropriate to release all or part of the remaining grant to the income statement.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,301,828

3,398,660

Social security costs

507,251

307,192

Other pension costs

84,770

125,549

4,893,849

3,831,401

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

2025

2024

All staff

140

129

2025

2024

£

£

Director's remuneration

117,948

107,504

Director's pension

53,871

53,588

171,819

161,092

4.	OPERATING PROFIT

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

2025

2024

£

£

Other operating leases

218,962

197,838

Depreciation - owned assets

390,421

332,273

Depreciation - assets on hire purchase contracts

123,273

115,823

Profit on disposal of fixed assets

(4,000

)

-

Auditor's remuneration

7,350

7,000

Amortisation of grants

14,227

-

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Loan interest

31,611

14,535

Financing charges

88,574

50,714

Hire purchase interest

74,969

61,218

195,154

126,467

6.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

136

-

Deferred tax

147,030

11,585

Tax on profit

147,166

11,585

UK corporation tax was charged at 25%) in 2024.

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

574,425

603,830

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

143,606

150,958

Effects of:

Income not taxable for tax purposes

837

3,673

Depreciation in excess of capital allowances

2,723

1,524

Utilisation of tax losses

-

(64,106

)

respect to change in tax rate

R & D tax credit

-

(80,464

)

Total tax charge

147,166

11,585

7.

DIVIDENDS

2025

2024

£

£

Interim

-

100,000

8.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

500,000

AMORTISATION

At 1 January 2025

and 31 December 2025

500,000

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

9.	TANGIBLE FIXED ASSETS

Improvements

to

leasehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 January 2025

347,202

6,506,943

6,854,145

Additions

30,832

690,291

721,123

Disposals

-

(650

)

(650

)

At 31 December 2025

378,034

7,196,584

7,574,618

DEPRECIATION

At 1 January 2025

67,846

4,007,158

4,075,004

Charge for year

18,043

495,651

513,694

Eliminated on disposal

-

(650

)

(650

)

At 31 December 2025

85,889

4,502,159

4,588,048

NET BOOK VALUE

At 31 December 2025

292,145

2,694,425

2,986,570

At 31 December 2024

279,356

2,499,785

2,779,141