REGISTERED NUMBER: 14729689 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MOVE SOUTH LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

10

Balance Sheet

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTOR:

O T Blake

REGISTERED OFFICE:

8-12 Military Road

Chatham

Kent

ME4 4JA

REGISTERED NUMBER:

14729689 (England and Wales)

AUDITORS:

Ashdown Hurrey Auditors Limited

Statutory Auditor

20 Havelock Road

Hastings

East Sussex

TN34 1BP

The director presents his strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The business is a franchise operation with two brands of Your Move and Reeds Rains based in London and the Southeast of England. The business was an acquisition of 30 offices from a trading corporate Estate Agency (LSL Property Services).

Trading in the later stages of 2024 remained positive resulting in a 23% increase in pipeline sales against the same period coming into 2024. The overall residential market in 2025 performed marginally behind 2024 in the first 6 months. Exchanged income was boosted dramatically at the end of March when changes to Stamp Duty Land Tax rates changed on 1st April 2025, when the temporary increases to the thresholds that were put in place in September 2022, came to an end. The main impact affected first time buyers hence the drive for completions by the end of March. The remainder of the year saw exchanged income level out and in effect transactional speed returned to previous levels which remains an industry issue.

Our lettings performance continued to grow through the year despite the concerns around the legislation changes with the Renters Rights Act. This in fact was delayed to 2026 which enabled the business to better prepare and restructure its property management department in readiness. Overall lettings income grew by 3.2%, we have continued to invest and support our lettings functions to grow our organic business.

Challenges have come from rising costs through the changes to National Insurance and National Minimum Wage rises which in turn has resulted in many suppliers increasing their costs. Overall expenditure remains a sharp focus of the business to maintain margins. We remain acquisitive and continue to look at opportunities in the Southeast.

Key performance indicators

Full year 2025

Full year 2024

Movement

Inspections

6,132

5,681

7.9%

Instructions

2,402

2,557

-6.1%

Conversion rate

39%

45%

-13.3%

Exchange performance (Units)

1,246

1,228

1.5%

Exchange performance (Fees)

£5,194,690

£4,887,585

6.3%

Pipeline (Units)

546

564

-3.2%

Pipeline (Fees)

£2,251,098

£2,225,092

1.2%

Revenue

£14,478,243

£13,871,406

4.4%

PRINCIPAL RISKS AND UNCERTAINTIES

The Move South Limited board regularly reviews risks facing the business and strategically plans to mitigate these whether short or long term. Principle risks are set out below.

Residential Sales Market

The housing market in the UK continues to be directly linked to UK economic factors which are cyclical in nature. 2025 saw a spike in residential activity in the run up to the Stamp Duty change that came into effect in April.

The revenue mix between sales and lettings does benefit Move South Limited and helps mitigate the effects of any softening of the residential sales market.

Lettings and Property Management

As mentioned the principal risks in the lettings market remain the shortage of new stock coming to the market against the backdrop of further legislation. The Renters Reform Bill gained royal ascent in 2025 and has come into effect from May 2026.

The business continues to inform landlords regularly of the potential changes to maintain landlord confidence, ensuring that we communicate a balanced view. As a business we remain confident that many landlords will continue to maintain a long-term approach to their investment portfolio.

Move South Limited is committed to being at the forefront of investing and introducing and improvements to software in property management and can see benefits with the enhancement of new technology.

Regulatory Compliance

The business continues to ensure that we fully meet changes to future legislation. Compliance in this area is essential, and we will maintain close communication with regulating and industry bodies to shape the business and implement any changes within specified timescales.

LSL Property Services as the franchisor also delivers Move South Limited with overarching support through online training for staff and a wider source of information relevant to impending changes.

Employee Retention

Staff retention is a priority to the success of the business and the UK Estate Agency Sector is highly competitive.

We maintain a flexible approach to contracted hours and have maintained levels of pay at entry level in excess of the National Living Wage requirements, and aim to encourage internal promotion and offer a career path for existing employees, as well as look to attract the best new candidates.

Move South Limited is committed to reviewing remuneration schemes regularly to ensure we are not only competitive but attractive as an employer.

Cashflow

Due to the nature of the sales market and its direct link to the UK economy, cashflow remains a principal risk. We have continued to focus on creating a positive balance sheet and ensuring we have cash reserves to support the business. The business has strategic goals in place to continue to grow the balance sheet and will have the ability to draw on additional financing should the need arise.

FUTURE DEVELOPMENTS

During 2026 we continue with our review of the branch network structure and make changes that will invest in experienced staff enabling us to better utilise their wealth of experience and knowledge of the industry. The company has a growth strategy and is looking to expand its footprint through acquiring lettings books.

ON BEHALF OF THE BOARD:

O T Blake - Director

14 September 2026

The director presents his 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 residential property estate agency and residential letting and property management.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR

O T Blake held office during the whole of the period from 1 January 2025 to the date of this report.

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances, trade creditors, trade debtors, drawdown facility from the franchisor and operating lease agreements. The main purpose of these instruments is to finance the company's operations.

Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest.

The company's operating lease commitments are in respect of the property from which the company operates. The liquidity risk in respect of these is managed in the same way as bank balances above.

The company's trade debtors are recovered via the solicitors upon completion of property sales and lettings. These are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors and drawdown facility liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Ashdown Hurrey Auditors Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

O T Blake - Director

14 September 2026

Opinion

We have audited the financial statements of Move South Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the 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 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud was as follows:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations:

- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector in which the company operates;

-We focused on specific laws and regulations which we considered may have a direct impact material effect on the financial statements, or the operations of the company which included the Companies Act 2006, Consumer Protection from Unfair Trading regulations 2008 and the Business protection from misleading marketing regulations 2008;

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and Identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the

completeness and timing of income recognition and the override of controls by management.

To address the risk of fraud in relation to revenue recognition, we:

- Performed detailed substantive testing to address completeness and accuracy of sales;

- Assessed the appropriateness and application of the accounting policy concerning income recognition; and

-Performed detailed cut-off testing either side of the balance sheet date.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

-Investigated the rationale behind significant or unusual transactions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the

financial reporting council website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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.

Simon Lawrence FCCA (Senior Statutory Auditor)

for and on behalf of Ashdown Hurrey Auditors Limited

Statutory Auditor

20 Havelock Road

Hastings

East Sussex

TN34 1BP

16 September 2026

TURNOVER

3

14,478,243

9,537,652

Cost of sales

(1,770,073

)

(1,204,084

)

GROSS PROFIT

12,708,170

8,333,568

Administrative expenses

(12,192,337

)

(7,449,102

)

OPERATING PROFIT

5

515,833

884,466

Interest receivable and similar income

34,625

10

550,458

884,476

Interest payable and similar expenses

6

(15,788

)

(3,948

)

PROFIT BEFORE TAXATION

534,670

880,528

Tax on profit

7

(127,341

)

(207,897

)

PROFIT FOR THE FINANCIAL YEAR

407,329

672,631

Retained earnings at beginning of year

965,635

293,004

RETAINED EARNINGS AT END OF YEAR

1,372,964

965,635

FIXED ASSETS

Tangible assets

8

85,801

48,941

CURRENT ASSETS

Debtors

9

983,688

1,049,097

Cash at bank

2,544,231

1,775,071

3,527,919

2,824,168

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

10

2,240,755

1,907,473

NET CURRENT ASSETS

1,287,164

916,695

TOTAL ASSETS LESS CURRENT LIABILITIES

1,372,965

965,636

CAPITAL AND RESERVES

Called up share capital

14

1

1

Retained earnings

15

1,372,964

965,635

SHAREHOLDERS' FUNDS

1,372,965

965,636

The financial statements were approved by the director and authorised for issue on 14 September 2026 and were signed by:

O T Blake - Director

Cash flows from operating activities

Cash generated from operations

1

993,565

996,438

Interest paid

(15,788

)

(3,948

)

Tax paid

(305,898

)

-

Net cash from operating activities

671,879

992,490

Cash flows from investing activities

Purchase of tangible fixed assets

(54,011

)

(53,436

)

Interest received

34,625

10

Net cash from investing activities

(19,386

)

(53,426

)

Cash flows from financing activities

New loans in year

400,000

-

Loan repayments in year

(283,333

)

(300,000

)

Net cash from financing activities

116,667

(300,000

)

Increase in cash and cash equivalents

769,160

639,064

Cash and cash equivalents at beginning of year

2

1,775,071

1,136,007

Cash and cash equivalents at end of year

2

2,544,231

1,775,071

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

Period

1.5.24

Year Ended

to

31.12.25

31.12.24

£

£

Profit before taxation

534,670

880,528

Depreciation charges

17,151

4,495

Finance costs

15,788

3,948

Finance income

(34,625

)

(10

)

532,984

888,961

Decrease in trade and other debtors

65,409

279,214

Increase/(decrease) in trade and other creditors

395,172

(171,737

)

Cash generated from operations

993,565

996,438

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

2,544,231

1,775,071

Period ended 31 December 2024

31.12.24

1.5.24

£

£

Cash and cash equivalents

1,775,071

1,136,007

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank

1,775,071

769,160

2,544,231

1,775,071

769,160

2,544,231

Debt

Debts falling due within 1 year

-

(116,667

)

(116,667

)

-

(116,667

)

(116,667

)

Total

1,775,071

652,493

2,427,564

1.	STATUTORY INFORMATION

Move South Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements.

On the basis of this consideration, the directors are satisfied that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they consider that no material uncertainty exists. As a result, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

Turnover

Residential turnover is generated from residential property sales and is recognised upon exchange, when contracts of sale are signed.

Lettings turnover is generated from acting as property landlords' agent, and is recognised on a cash basis, with a year end adjustment for invoices raised not yet paid.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% on cost

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

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.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

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

Period

1.5.24

Year Ended

to

31.12.25

31.12.24

£

£

Residential

5,153,021

3,471,686

Lettings

7,532,668

5,020,191

Other

1,792,554

1,045,775

14,478,243

9,537,652

4.	EMPLOYEES AND DIRECTORS

Period

1.5.24

Year Ended

to

31.12.25

31.12.24

£

£

Wages and salaries

7,376,948

4,357,578

Social security costs

942,982

460,346

Other pension costs

304,114

192,049

8,624,044

5,009,973

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

Period

1.5.24

Year Ended

to

31.12.25

31.12.24

Head Office

6

6

Branch Employees

201

188

207

194

Period

1.5.24

Year Ended

to

31.12.25

31.12.24

£

£

Director's remuneration

510,874

119,775

Information regarding the highest paid director for the year ended 31 December 2025 is as follows:

Year Ended

31.12.25

£

Emoluments etc

510,874

5.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1.5.24

Year Ended

to

31.12.25

31.12.24

£

£

Depreciation - owned assets

17,151

4,495

Auditors' remuneration

20,900

14,000

Auditors' remuneration for non audit work

8,575

9,466

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.5.24

Year Ended

to

31.12.25

31.12.24

£

£

HMRC Interest & Penalties

573

-

Other loan interest

15,215

3,948

15,788

3,948

7.

TAXATION

Analysis of the tax charge

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

Period

1.5.24

Year Ended

to

31.12.25

31.12.24

£

£

Current tax:

UK corporation tax

127,341

207,897

Tax on profit

127,341

207,897

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

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

Period

1.5.24

Year Ended

to

31.12.25

31.12.24

£

£

Profit before tax

534,670

880,528

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

133,668

220,132

Effects of:

Expenses not deductible for tax purposes

2,893

-

Capital allowances in excess of depreciation

(9,220

)

(12,235

)

Total tax charge

127,341

207,897

8.	TANGIBLE FIXED ASSETS

Improvemen

to

property

£

COST

At 1 January 2025

53,436

Additions

54,011

At 31 December 2025

107,447

DEPRECIATION

At 1 January 2025

4,495

Charge for year

17,151

At 31 December 2025

21,646

NET BOOK VALUE

At 31 December 2025

85,801

At 31 December 2024

48,941

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

756,243

863,628

Prepayments

227,445

185,469

983,688

1,049,097

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Other loans (see note 11)

116,667

-

Trade creditors

369,166

375,520

Tax

127,341

305,898

Social security and other taxes

224,149

197,076

VAT

341,811

342,470

Other creditors

-

17,609

Directors' current accounts

999

999

Accrued expenses

1,060,622

667,901

2,240,755

1,907,473

11.

LOANS

An analysis of the maturity of loans is given below:

31.12.25

31.12.24

£

£

Amounts falling due within one year or on demand:

Other loans

116,667

-