REGISTERED NUMBER: 14858809 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

For The Year Ended

31 December 2025

for

LESTER CLADDING GROUP HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Statement of Directors' Responsibilities

6

Report of the Independent Auditors

7

Consolidated Profit and Loss Account

11

Consolidated Other Comprehensive Income

12

Consolidated Balance Sheet

13

Company Balance Sheet

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Cash Flow Statement

18

Notes to the Consolidated Financial Statements

19

DIRECTORS:

Mr S Lester

Mr M Lester

Mr K Lester

Mr D Lester

Miss K Lester

SECRETARY:

Miss K Lester

REGISTERED OFFICE:

Globe Way

Off Spencer Industrial Estate

Buckley

Flintshire

CH7 3FH

REGISTERED NUMBER:

14858809 (England and Wales)

AUDITORS:

Leavitt Walmsley Associates Limited

Chartered Certified Accountants and

Statutory Auditors

8 Eastway

Sale

Cheshire

M33 4DX

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

REVIEW OF BUSINESS

The directors are satisfied with the group's performance during the year.

The group continues to specialise in roofing, cladding and envelope solutions for the construction industry. During 2025, the effects of high inflation over the previous year began to subside and gross margins returned to normal levels. Inflation is not as high, but remained fairly unsettled, and this has had an impact on gross margins in the financial year. There was also a general slowdown across the industry which has given rise to a reduced level of turnover and profitability in the year; although the group had planned for this eventuality.

Strong proactive management performance ensured that negative impacts of the above were reduced as far as possible through strong relationships with our suppliers, staff and contractors.

Group revenue saw a decrease of just over 35% from 2024. This was partly attributable to a general slowdown within the industry; however, it also reflects a deliberate and disciplined approach to project selection. Competitive pricing within the market resulted in certain opportunities being tendered at margins which the group did not consider commercially viable. The group therefore chose not to pursue turnover for turnover's sake, instead focussing on projects offering an appropriate balance of margin, complexity and commercial risk.

Administrative expenditure saw a decrease of 2.6% which has been largely driven by a reduction in some general overheads and a decrease in depreciation charges. Staff numbers have also reduced during the year given the slowdown in the industry.

The reduction in sales volumes and decrease in gross profit margin allowed group operating profit to reduce to £204k compared to just under £3.1m prior year.

Despite the industry slowdown affecting group revenue, gross margins and profitability, the group remains in a healthy financial position, reporting cash balances of £5.5m compared to £5.0m in the prior year.

The directors are hopeful the balance sheet position will continue to show improvements during the 2026 financial year. Highlights of the results for 2025 show group net current assets increasing from £4.9m to £5.4m in 2025. The group's overall net assets have increased from £4.0m to £4.2m.

The group continued to invest in and retain its workforce throughout the period, despite the lower level of turnover. As a result, staffing levels and associated costs remained higher than would ordinarily be required for the level of activity experienced during the year. This was a deliberate strategic decision to preserve the group's experienced workforce and operational capacity, positioning the business to respond effectively as activity increases. The group anticipates turnover recovering towards the levels achieved in 2024 during 2026 and 2027.

Group reconstruction

During the year, a group reconstruction took place which removed an intermediate parent entity, Lester Cladding Holdings Ltd from the group. Lester Cladding Holdings Ltd owned 100% of Lester Cladding Ltd. The group reconstruction transferred the shares in Lester Cladding Ltd to Lester Cladding Group Holdings Ltd. Following the group reconstruction, Lester Cladding Holdings was dissolved.

PRINCIPAL RISKS AND UNCERTAINTIES

Other than general economic risks, the principal risks faced by the group remain those relating to a highly competitive tendering market, inflation in the supply chain costs, increasing employment costs and wider wage pressures across the industry, and changes in regulations and government planning. Increases in the National Minimum Wage and other employer costs have placed additional pressure on the company's cost base, whilst also contributing to increased salary expectations across the wider construction industry.

The group enters into long-term contracts in the ordinary course of business which introduces further commercial, inflation, customer and supply chain risks to the business which can impact on revenue and profit recognised on contracts. Significant levels of group activity continue to relate to the building and construction sector which remain impacted by fierce competition, rising material prices and increasing labour costs.

The directors actively manage this risk through careful tendering, cost management and by working with selected clients in the private sector.

The continuing conflict between Russia and Ukraine has disrupted worldwide supply chains and has resulted in significant increases in both inflation and interest rates to the UK economy. The future trends in both inflation and interest rates remains uncertain and has generated volatility in both our customer base and supply chain.

The directors continue to monitor the potential impact of the above issues on our customers.

KEY PERFORMANCE INDICATORS

The directors have monitored the progress of the group with reference to certain financial key performance indicators:

Revenue

£12m (2024: £18m)

Operating profit

£204k (2024: £3.1m)

Profit before tax

£378k (2024: £3.3m)

Net current assets

£5.4m (2024: £4.9m)

Net assets

£4.2m (2024: £4.0m)

Cash and cash equivalents

£5.5m (2024: £5.0m)

Key performance indicators (KPIs) include revenue, gross profit and operating profit. These KPIs are selected as 'key' on the basis that the group is driven by gross margins on construction contracts and the directors strive to keep margins as high as possible in order to preserve profit and maintain competitive advantage. Operating profit is also a KPI on the grounds that it is an indicator of business performance, whereas profit before tax may include exceptional items.

Non-financial KPIs

Average employee headcount: 47 (2024: 56).

FUTURE DEVELOPMENTS

The group has devised a competitive pricing model for key materials and has mitigated exposure to logistical and product price increases by a formulaic pricing matrix. This will ensure the group maintains its margins on key products. A bespoke construction contract costing system is in place to ensure that profitability is maintained on construction contracts.

Management is looking to develop further relations with its key customer base and take on new partners during the course of 2026 to strengthen business activity within the sector.

The directors remain confident in the long-term prospects of the group. Whilst market conditions remained challenging during 2025, the group has retained the resources, expertise and operational capacity required to respond to increased demand as construction activity and project pipelines recover.

ON BEHALF OF THE BOARD:

Mr S Lester - Director

3 September 2026

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

DIVIDENDS

Interim dividends amounting to £125,000 (2024: £2,428,150) were paid during the year.

The directors recommend that no final dividends be paid.

The total distribution of dividends for the year ended 31 December 2025 will be £125,000 (2024: £2,428,150).

FUTURE DEVELOPMENTS

Future developments are addressed in the group strategic report.

DIRECTORS

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

Mr S Lester

Mr M Lester

Mr K Lester

Mr D Lester

Other changes in directors holding office are as follows:

Miss K Lester - appointed 8 April 2025

FINANCIAL INSTRUMENTS

The group uses financial instruments. These include bank balances, trade and other debtors and creditors that arise directly from its operations, directors' current accounts, unpaid share capital, accruals and preference shares.

The existence of these financial instruments exposes the group to a number of financial risks, which are described in more detail below:

Liquidity risk

The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash safely and profitably.

Interest rate risk

The group finances its operations through retained profits and bank balances. The interest rate exposure of the financial assets and financial liabilities of the group as at 31 December 2025 is shown below. The table includes trade debtors and trade creditors which do not attract interest and are therefore subject to fair value interest rate risk:

Fixed

Floating

Zero

Total

£

£

£

£

Financial assets

Trade and other debtors

-

-

2,063

2,063

Cash and bank balances

-

5,508

-

5,508

Financial liabilities

Trade and other creditors

-

-

2,280

2,280

Accrued expenses

-

-

61

61

Directors' current accounts

-

-

8

8

Preference shares

5,717

-

-

5,717

Credit risk

The group's principal financial assets are cash deposits, cash and trade debtors. The credit risk associated with cash is linked to the impact of contracts with customers where certain contract receipts may be deferred for several months. The directors manage this credit risk through a detailed customer approval and acceptance process.

GOING CONCERN

As at 31 December 2025, the group had cash of £5.5m (2024: £5.0m). It also had a strong forward order book.

The uncertainty as to the future impact on the group of external factors has been considered as part of the group's adoption of the going concern basis. The board has completed an assessment as to the potential impact to the group in the event of certain downside scenarios, including a significant deterioration in revenues and productivity. A key component of this exercise is to highlight future discretionary expenditure on developments which could be avoided or deferred in order to protect the group's cash balances.

The consolidated financial statements have been prepared on a going concern basis which the directors believe is appropriate for the following reasons:

The group currently meets its day-to-day working capital requirements through its bank accounts. The directors have prepared and reviewed cash flow forecasts and the directors are confident that the group has adequate resources available to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis of accounting in preparing these consolidated financial statements.

DISCLOSURE IN THE STRATEGIC REPORT

In accordance with s414c(11), Sch 7, Companies Act 2006, the group has chosen to set out in the group's strategic report information required by The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008. It has done so in respect of:

(a) Principal risks faced by the group; and

(b) Future developments.

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, Leavitt Walmsley Associates Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr S Lester - Director

3 September 2026

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;

-	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.

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 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, the Report of the Directors and the Statement of Directors' Responsibilities, 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 six, 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:

In respect of fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

It is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

- obtained an understanding of the nature of the industry and sector, including the legal and regulatory frameworks that the group and parent company operate in and how the group and parent company are complying with the legal and regulatory frameworks;

- inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud; and

- discussed matters about non-compliance with laws and regulations and how fraud might occur including an assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures, we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, the Companies Act 2006 and tax legislation. We performed audit procedures to detect non-compliance which may have a material impact on the financial statements which included reviewing financial statement disclosures, inspecting correspondence with local tax authorities and evaluating advice received from external advisors.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to health and safety. We performed audit procedures to inquire of management and those charged with governance whether the group and company is in compliance with these laws and regulations and reviewing any notices published by the Health and Safety Executive. We also made inquiries with those charged with governance to identify any live and material claims or disputes with subcontractors or clients.

The group audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included, but were not limited to:

- Testing manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, assessing whether the judgements made in making accounting estimates are indicative of potential bias.

- We tested a sample of revenue transactions recognised either side of the balance sheet date to determine whether revenue was recorded in the correct period.

- Challenging judgements and estimates applied in the valuation of amounts recoverable on contracts by discussing contract performance with quantity surveyors, reviewing post-year end performance of projects and comparing the outturn of projects with the estimates made in preparing the prior year's financial statements.

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.

Steven John Collings FCCA (Senior Statutory Auditor)

for and on behalf of Leavitt Walmsley Associates Limited

Chartered Certified Accountants and

Statutory Auditors

8 Eastway

Sale

Cheshire

M33 4DX

3 September 2026

TURNOVER

3

11,822,845

18,207,474

Cost of sales

9,372,677

12,786,958

GROSS PROFIT

2,450,168

5,420,516

Administrative expenses

2,418,476

2,481,929

31,692

2,938,587

Other operating income

172,015

141,756

OPERATING PROFIT

5

203,707

3,080,343

Interest receivable and similar income

174,406

211,692

PROFIT BEFORE TAXATION

378,113

3,292,035

Tax on profit

7

94,777

852,916

PROFIT FOR THE FINANCIAL YEAR

283,336

2,439,119

Profit attributable to:

Owners of the parent

283,336

2,439,119

PROFIT FOR THE YEAR

283,336

2,439,119

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

283,336

2,439,119

Total comprehensive income attributable to:

Owners of the parent

283,336

2,439,119

FIXED ASSETS

Tangible assets

10

4,971,118

5,546,037

Investments

11

-

-

4,971,118

5,546,037

CURRENT ASSETS

Debtors

12

2,388,812

3,806,684

Cash at bank and in hand

5,507,882

4,960,578

7,896,694

8,767,262

CREDITORS

Amounts falling due within one year

13

2,498,520

3,887,696

NET CURRENT ASSETS

5,398,174

4,879,566

TOTAL ASSETS LESS CURRENT LIABILITIES

10,369,292

10,425,603

CREDITORS

Amounts falling due after more than one year

14

(5,717,400

)

(5,817,400

)

PROVISIONS FOR LIABILITIES

16

(485,755

)

(600,402

)

NET ASSETS

4,166,137

4,007,801

CAPITAL AND RESERVES

Called up share capital

17

301

301

Revaluation reserve

18

128,250

128,250

Merger reserve

18

(5,867,202

)

(5,867,202

)

Retained earnings

18

9,904,788

9,746,452

4,166,137

4,007,801

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2026 and were signed on its behalf by:

Mr S Lester - Director

FIXED ASSETS

Tangible assets

10

-

-

Investments

11

9,825,323

12,770,522

9,825,323

12,770,522

CURRENT ASSETS

Debtors

12

195,199

1,317,699

Cash at bank

2,841

-

198,040

1,317,699

CREDITORS

Amounts falling due within one year

13

135,867

1,317,500

NET CURRENT ASSETS

62,173

199

TOTAL ASSETS LESS CURRENT LIABILITIES

9,887,496

12,770,721

CREDITORS

Amounts falling due after more than one year

14

5,717,400

5,817,400

NET ASSETS

4,170,096

6,953,321

CAPITAL AND RESERVES

Called up share capital

17

301

301

Merger reserve

18

3,887,299

6,832,498

Retained earnings

18

282,496

120,522

4,170,096

6,953,321

Company's profit for the financial year

286,974

2,478,150

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2026 and were signed on its behalf by:

Mr S Lester - Director

Called up

share

Retained

Revaluation

Merger

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

301

9,735,483

128,250

(5,867,202

)

3,996,832

Changes in equity

Dividends

-

(2,428,150

)

-

-

(2,428,150

)

Total comprehensive income

-

2,439,119

-

-

2,439,119

Balance at 31 December 2024

301

9,746,452

128,250

(5,867,202

)

4,007,801

Changes in equity

Dividends

-

(125,000

)

-

-

(125,000

)

Total comprehensive income

-

283,336

-

-

283,336

Balance at 31 December 2025

301

9,904,788

128,250

(5,867,202

)

4,166,137

Called up

share

Retained

Merger

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2024

301

70,522

6,832,498

6,903,321

Changes in equity

Dividends

-

(2,428,150

)

-

(2,428,150

)

Total comprehensive income

-

2,478,150

-

2,478,150

Balance at 31 December 2024

301

120,522

6,832,498

6,953,321

Changes in equity

Dividends

-

(125,000

)

-

(125,000

)

Total comprehensive income

-

286,974

(2,945,199

)

(2,658,225

)

Balance at 31 December 2025

301

282,496

3,887,299

4,170,096

Cash flows from operating activities

Cash generated from operations

1

1,317,937

2,119,460

Tax paid

(447,165

)

(566,243

)

Net cash from operating activities

870,772

1,553,217

Cash flows from investing activities

Purchase of tangible fixed assets

(268,431

)

(1,538,372

)

Sale of tangible fixed assets

110,363

173,399

Interest received

174,406

211,692

Net cash from investing activities

16,338

(1,153,281

)

Cash flows from financing activities

Amount introduced by directors

-

99,530

Amount withdrawn by directors

(114,806

)

(90,074

)

Redemption of preference shares

(100,000

)

(50,000

)

Equity dividends paid

(125,000

)

(1,110,650

)

Net cash from financing activities

(339,806

)

(1,151,194

)

Increase/(decrease) in cash and cash equivalents

547,304

(751,258

)

Cash and cash equivalents at beginning of year

2

4,960,578

5,711,836

Cash and cash equivalents at end of year

2

5,507,882

4,960,578

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.12.25

31.12.24

£

£

Profit before taxation

378,113

3,292,035

Depreciation charges

761,081

793,117

Profit on disposal of fixed assets

(19,329

)

(65,858

)

Reclassification of fixed assets

(8,765

)

-

Finance income

(174,406

)

(211,692

)

936,694

3,807,602

Decrease/(increase) in trade and other debtors

1,439,725

(508,363

)

Decrease in trade and other creditors

(1,058,482

)

(1,179,779

)

Cash generated from operations

1,317,937

2,119,460

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

5,507,882

4,960,578

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

4,960,578

5,711,836

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

4,960,578

547,304

5,507,882

4,960,578

547,304

5,507,882

Debt

Debts falling due after 1 year

(5,817,400

)

100,000

(5,717,400

)

(5,817,400

)

100,000

(5,717,400

)

Total

(856,822

)

647,304

(209,518

)