REGISTERED NUMBER: 02670240 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

LEISURETEC DISTRIBUTION LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

10

Statement of Financial Position

11

Statement of Changes in Equity

12

Statement of Cash Flows

13

Notes to the Statement of Cash Flows

14

Notes to the Financial Statements

15

DIRECTORS:

M C Henden

C M D Henden

W N Juggins

REGISTERED OFFICE:

Unit L3

Cherrycourt Way

Stanbridge Road

Leighton Buzzard

Bedfordshire

LU7 4UH

REGISTERED NUMBER:

02670240 (England and Wales)

AUDITORS:

Landers Accountants Ltd

Church View Chambers

38 Market Square

Toddington

Bedfordshire

LU5 6BS

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

REVIEW OF BUSINESS

This strategic report aims to provide a balanced and comprehensive assessment of the development, performance, and position of the business throughout 2025 and as at the year end. This review is consistent with the size and non-complex nature of the Company and is presented in the context of the principal risks and uncertainties faced.

2025 was another very strong year with all-time record levels of revenue representing a growth of 8.3% over that of 2024. NET profit increased by a similar percentage of 8.8%.

Whilst continuing to grow sales and resulting profits, we continued to invest in the infrastructure of the business to facilitate further growth and stability. In February 2025 we acquired another warehouse in our block of buildings to increase our operating space and efficiencies. This is already being put to good use and will allow for significant future growth. We have continued to build our team by way recruitment, training and development.

We continued to benefit from the growth of our exclusive and semi-exclusive brands, whilst adding more products and brands to our portfolio. These initiatives serve to underpin our stability and resilience to potential market/economic driven peaks and troughs.

We continually invest in our I.T. infrastructure, website and systems to ensure that we offer the best possible customer experience online and in person.

Looking forward to 2026, we are planning to redevelop our existing offices to improve the working environment, increase efficiency and the space to further grow the team.

We value the strong relationships we hold with customers, suppliers, and other stakeholders, and continue to uphold the trust and reputation we have built in the sector.

True to our core values - Experience, Choice, Value, and Service - we remain committed to delivering exceptional service throughout the customer journey. Our extensive stockholding and focus on being easy to do business with are central to our competitive advantage.

In our opinion the key financial performance indicators are as follows;

2025

2024

2023

Turnover

£24,102,349

£22,251,262

£23,640,275

Gross profit

£5,130,464

£4,521,912

£5,027,285

Operating profit

£2,828,473

£2,603,814

£3,093,082

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks to which the business is subject are economic risk, financial risk and customer risk. Details of these risks and the procedures in place to minimise these are as follows:

There will always be the danger and uncertainty of potential economic slowdown, which we have seen several times in our 35+ years, however with a very wide range of products, markets, suppliers and customers, we are not as susceptible as many businesses are to this type of local/global threat. Indeed, many of our products are targeted towards the entertainment industry and people want to have fun, no matter the climate.

A major strength is our careful management of cashflow and reserves to enable us to fluidly handle the ebb and flow of normal business and any unforeseen significant events.

As a scalable and well-financed business, we have no concerns about our future resilience. We will always have the importance of our stakeholders (team, customers, suppliers, service providers, banks etc.) in the forefront of our minds. We are very grateful to all for their support and contribution to our continued success.

'Brand Leisuretec' - is our business, from which our strong portfolio of quality products flow. We concentrate our efforts through marketing, service and relationships to maintain our brand, company image and standing in our industry.

ON BEHALF OF THE BOARD:

M C Henden - Director

26 August 2026

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

DIVIDENDS

Interim dividends per share were paid as follows:

Ordinary B

£5,900

03 January 2025

Ordinary A

£2,200

31 March 2025

Ordinary B

£3,000

14 April 2025

Ordinary B

£3,000

03 July 2025

Ordinary A

£1,400

29 July 2025

Ordinary B

£3,000

27 October 2025

The total distribution of dividends for the year ended 31 December 2025 will be £254,500.00.

FUTURE DEVELOPMENTS

Information on likely future developments in the business of the company has been included in the Strategic

Report on page 2.

DIRECTORS

M C Henden has held office during the whole of the period from 1 January 2025 to the date of this report.

Other changes in directors holding office are as follows:

C M D Henden - appointed 1 September 2025

W N Juggins - appointed 1 September 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), 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 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, Landers Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M C Henden - Director

26 August 2026

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

- enquiries with management, including consideration of known or suspected instances of fraud and

non-compliance with laws and regulations and examining supporting calculations where a provision has been

made in respect of these;

- reading key correspondence with regulatory authorities in relation to compliance with certain employment

laws;

- understanding and evaluating the design and implementation of management's controls designed to prevent

and detect irregularities;

- challenging assumptions and judgements made by management in their significant accounting estimates, in

particular in relation to valuation of investment property and the measurement and classification of

exceptional items;

- identifying and testing journal entries, in particular any journal entries posted with unusual account

combinations and postings by unusual users.

There are inherent limitations in the audit procedures described above and the further removed

non-compliance with laws and regulations is from the events and transactions reflected in the financial

statements, the less likely we would become aware of it. Also, the risk of not detecting a material

misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may

involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through

collusion.

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.

Robert Brown (Senior Statutory Auditor)

for and on behalf of Landers Accountants Ltd

Church View Chambers

38 Market Square

Toddington

Bedfordshire

LU5 6BS

26 August 2026

REVENUE

24,102,349

22,251,262

Cost of sales

18,971,885

17,729,350

GROSS PROFIT

5,130,464

4,521,912

Administrative expenses

2,357,583

1,968,094

2,772,881

2,553,818

Other operating income

55,592

49,996

OPERATING PROFIT

4

2,828,473

2,603,814

Interest receivable and similar income

42,071

60,165

2,870,544

2,663,979

Interest payable and similar expenses

5

-

(119

)

PROFIT BEFORE TAXATION

2,870,544

2,664,098

Tax on profit

6

737,893

677,335

PROFIT FOR THE FINANCIAL YEAR

2,132,651

1,986,763

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,132,651

1,986,763

FIXED ASSETS

Property, plant and equipment

8

2,716,817

1,514,959

CURRENT ASSETS

Inventories

9

9,018,066

7,841,061

Debtors

10

1,403,936

1,207,995

Cash at bank and in hand

2,912,813

2,170,985

13,334,815

11,220,041

CREDITORS

Amounts falling due within one year

11

4,214,924

2,762,550

NET CURRENT ASSETS

9,119,891

8,457,491

TOTAL ASSETS LESS CURRENT LIABILITIES

11,836,708

9,972,450

PROVISIONS FOR LIABILITIES

13

44,391

58,284

NET ASSETS

11,792,317

9,914,166

CAPITAL AND RESERVES

Called up share capital

14

455

455

Capital redemption reserve

15

150

150

Retained earnings

15

11,791,712

9,913,561

SHAREHOLDERS' FUNDS

11,792,317

9,914,166

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 26 August 2026 and were signed on its behalf by:

M C Henden - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2024

455

7,996,298

150

7,996,903

Changes in equity

Dividends

-

(69,500

)

-

(69,500

)

Total comprehensive income

-

1,986,763

-

1,986,763

Balance at 31 December 2024

455

9,913,561

150

9,914,166

Changes in equity

Dividends

-

(254,500

)

-

(254,500

)

Total comprehensive income

-

2,132,651

-

2,132,651

Balance at 31 December 2025

455

11,791,712

150

11,792,317

Cash flows from operating activities

Cash generated from operations

1

2,995,677

2,812,548

Interest paid

-

12,184

Tax paid

(653,000

)

(735,119

)

Net cash from operating activities

2,342,677

2,089,613

Cash flows from investing activities

Purchase of tangible fixed assets

(1,347,931

)

(66,740

)

Interest received

42,071

60,165

Net cash from investing activities

(1,305,860

)

(6,575

)

Cash flows from financing activities

Loan repayments in year

-

(430,566

)

Amount introduced by directors

483,680

888,680

Amount withdrawn by directors

(524,169

)

(1,205,399

)

Equity dividends paid

(254,500

)

(69,500

)

Net cash from financing activities

(294,989

)

(816,785

)

Increase in cash and cash equivalents

741,828

1,266,253

Cash and cash equivalents at beginning of year

2

2,170,985

904,732

Cash and cash equivalents at end of year

2

2,912,813

2,170,985

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

31.12.25

31.12.24

£

£

Profit before taxation

2,870,544

2,664,098

Depreciation charges

146,071

114,579

Finance costs

-

(119

)

Finance income

(42,071

)

(60,165

)

2,974,544

2,718,393

(Increase)/decrease in inventories

(1,177,005

)

426,428

Increase in trade and other debtors

(195,941

)

(46,351

)

Increase/(decrease) in trade and other creditors

1,394,079

(285,922

)

Cash generated from operations

2,995,677

2,812,548

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

2,912,813

2,170,985

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

2,170,985

1,031,001

Bank overdrafts

-

(126,269

)

2,170,985

904,732

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

2,170,985

741,828

2,912,813

2,170,985

741,828

2,912,813

Total

2,170,985

741,828

2,912,813

1.	STATUTORY INFORMATION

Leisuretec Distribution Limited is a private company, limited by shares, registered in England and Wales. Its registered office is Church View Chambers, 38 Market Square, Toddington, Dunstable, Bedfordshire, LU5 6BS.

Its principal place of business is Unit L3, Cherrycourt Way, Leighton Buzzard LU7 4UH.

The presentation currency is £ sterling.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and on a going concern basis.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgments, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates.

Critical Accounting Judgements

Recoverability of Trade Receivables

Management applies judgment in assessing the collectability of amounts due from individual customers.

Key Sources of Estimation Uncertainty

Useful Lives and Residual Values of Vehicles and Equipment

Vehicles, plant and machinery, fixtures and related assets are depreciated over their estimated useful lives. Management reviews useful lives and residual values annually, taking into account asset condition, maintenance history, utilisation levels, and expected replacement cycles.

Impairment of Property, Plant and Equipment

Management assesses whether indicators of impairment exist for vehicles, storage facilities, and other operational assets. Impairment assessments require estimates of future cash flows and asset values.

Inventory

Where the Company holds audiovisual equipment or consumables, management estimates the level of obsolete or slow-moving inventory requiring provision.

Sensitivity to Estimates

Management believes that the assumptions and estimates used are reasonable. However, due to the inherent uncertainty associated with such estimates, actual results may differ and could require material adjustments to the carrying amounts of assets and liabilities in future reporting periods.

Revenue recognition

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

Revenue comprises amounts receivable for audiovisual equipment, net of value added tax.

Revenue is recognised when the Company transfers control of the goods to the customer and the amount of revenue can be measured reliably.

- Audiovisual equipment revenue is recognised at the point of dispatch. Standard customer payment terms require settlement within 30 days of the invoice date..

- Revenue relating to services performed but not invoiced at the reporting date is recognised as accrued income where entitlement to consideration exists and the amount can be measured reliably.

- Amounts received in advance of providing services are recognised as deferred income and released to revenue when the related services are performed.

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

All fixed assets are initially recorded at cost.

The assets are carried at cost less accumulated depreciation and impairment.

Assets are removed from the statement of financial position on disposal or when it is withdrawn from use and no future economic benefits are expected from its disposal.

Inventories

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

When the inventory's market value drops below its book value on the statement of financial position an impairment correction is undertaken.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are initially measured at the transaction price, including transaction costs, except where the arrangement constitutes a financing transaction.

Basic Financial Instruments

Basic financial instruments comprise cash at bank and in hand, trade and other debtors, trade and other creditors, intercompany balances, bank loans, hire purchase liabilities, finance lease obligations, and invoice discounting facilities that meet the criteria of Section 11 of FRS 102.

Such instruments are subsequently measured at transaction price, or amortised cost using the effective interest method, as applicable.

Trade and Other Debtors

Trade and other debtors are recognised initially at transaction price less any impairment losses.

The Company assesses at each reporting date whether there is objective evidence that a financial asset is impaired. Where objective evidence exists, an impairment loss is recognised in the profit and loss account as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the asset's original effective interest rate.

Indicators of impairment include significant financial difficulty of the debtor, default or delinquency in payments, and circumstances indicating that collection of the debt is doubtful.

Cash and Cash Equivalents

Cash and cash equivalents comprise cash on hand and deposits held at call with banks.

Trade and Other Creditors

Trade and other creditors are initially recognised at transaction price and as applicable subsequently measured at amortised cost.

Bank Borrowings

Interest-bearing bank loans, overdrafts, hire purchase agreements, and other borrowings are initially recognised at the transaction price, net of directly attributable transaction costs. Borrowings are subsequently measured at amortised cost using the effective interest method.

Interest expense is recognised in the profit and loss account over the term of the borrowing.

Trade receivables subject to invoice discounting remain recognised within debtors, with the corresponding funding received presented as a liability within creditors due within one year, specifically bank loans and overdraft.

Finance charges arising under invoice discounting arrangements are recognised in the profit and loss account over the period of the facility using the effective interest method.

Impairment of Financial Assets

At each reporting date, the Company assesses whether there is objective evidence that a financial asset is impaired.

If there is objective evidence of impairment, the Company recognises an impairment loss immediately in profit or loss. The impairment loss is measured as the difference between the carrying amount of the asset and the present value of estimated future cash flows discounted using the asset's original effective interest rate.

Impairment losses are reversed where there has been a subsequent improvement in the recoverability of the asset and the reversal can be objectively related to an event occurring after the impairment was recognised.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

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

Hire purchase and leasing commitments

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

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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.

3.	EMPLOYEES AND DIRECTORS

31.12.25

31.12.24

£

£

Wages and salaries

989,039

799,668

Social security costs

110,554

71,929

Other pension costs

16,968

13,945

1,116,561

885,542

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

31.12.25

31.12.24

Directors

2

1

Management and administration

18

18

Operational

8

8

28

27

31.12.25

31.12.24

£

£

Directors' remuneration

57,609

9,100

4.	OPERATING PROFIT

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

31.12.25

31.12.24

£

£

Hire of plant and machinery

750

402

Depreciation - owned assets

146,073

114,577

Auditors' remuneration

15,000

13,000

Foreign exchange differences

444

(413

)

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.25

31.12.24

£

£

Corporation tax interest

-

(119

)

6.

TAXATION

Analysis of the tax charge

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

31.12.25

31.12.24

£

£

Current tax:

UK corporation tax

751,786

678,950

Deferred tax

(13,893

)

(1,615

)

Tax on profit

737,893

677,335

UK corporation tax has been charged at 25% (2024 - 25%).

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:

31.12.25

31.12.24

£

£

Profit before tax

2,870,544

2,664,098

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

717,636

666,025

Effects of:

Expenses not deductible for tax purposes

842

966

Depreciation in excess of capital allowances

33,308

11,959

Deferred tax: origination and reversal of timing differences

(13,893

)

(1,615

)

Total tax charge

737,893

677,335

7.

DIVIDENDS

31.12.25

31.12.24

£

£

Ordinary A shares of £1 each

Interim

180,000

-

Ordinary B shares of £1 each

Interim

74,500

69,500

254,500

69,500