REGISTERED NUMBER: 03323414 (England and Wales)

Strategic Report, Directors' Report and

Financial Statements for the Year Ended 31 January 2026

for

Anglian Land Drainage Limited

Page

Company Information

1

Strategic Report

2

Directors' Report

4

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

Mr M D Jaggard

Mr S C Jaggard

SECRETARY:

Mr M D Jaggard

REGISTERED OFFICE:

Mawkinherds Farm

High Easter Road

Barnston

Dunmow

Essex

CM6 1ND

REGISTERED NUMBER:

03323414 (England and Wales)

AUDITORS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

The directors present their strategic report for the year ended 31 January 2026.

REVIEW OF BUSINESS

The key performance indicators of the business are considered to be turnover and gross profit margin. The key

financial highlights are as follows:

Year Ended

Year Ended

31.1.26

31.1.25

£'000

£'000

Turnover

12,690

13,146

Gross profit / (loss)

4,756

4,682

Gross assets

11,520

8,640

The directors frequently review the above results as part of the performance meetings.

The company supplies services to the utilities, infrastructure, and waste sectors. The company owns and operates a large fleet of HGVs, plant and equipment. Our team works diligently to ensure the successful delivery of all projects within set timelines, budgets and specifications supplied by our clients.

During 2025/26 the company improved systems and made efficiency savings which led to an improvement in the operating profit, although turnover decreased during the period. The largest area of improvement came from the upgrade of the plant and equipment, thus reducing downtime and costly repairs.

With the Government demand for more housing stock, the increased need for the potable and wastewater network to be expanded, as well as the renewal of the existing infrastructure, this has led to heavy investment by the utility companies.

The directors will continue to invest in the latest equipment and technologies to improve the services offered to our clients

PRINCIPAL RISKS AND UNCERTAINTIES

During the course of its business the company is exposed to relatively low levels of financial risks which are dealt with in the next paragraph. Other risks include but are not limited to the failure to comply with legislative and regulatory requirements including environmental and litigation failures, business continuity and the actions of customers and competitors. The company has implemented risk controls and loss mitigation plans but cannot give absolute assurance that such procedures will be effective in identifying or controlling each of the operational risks faced by the company.

FINANCIAL RISK MANAGEMENT POLICIES

The overall aim of the company financial risk management policy is to minimise potential adverse effects on financial performance and net assets. In the course of the business, the company is exposed primarily liquidity risk and credit risk. Interest rate risk is not considered significant as the company does not have any liabilities that accrue significant interest and interest income on bank deposits is not material.

The company manages the principal financial risk within policies and operating parameters approved by the Board of Directors. The company does not enter into speculative transactions.

i) Liquidity risk

The company's policy on liquidity risk is to ensure that sufficient cash is available to fund on-going operations without the need to carry significant net debt. Where appropriate financing can be negotiated, assets may be purchased under finance lease agreement. The extent of this financing is not considered material.

ii) Credit risk

Credit risk arises on financial instruments such as trade receivables. Policies and procedures exist to ensure that

customers have an appropriate credit history. Overall, the company considers that it is not exposed to a significant amount of credit risk.

iii) Client portfolio risk

Client portfolio risk is the risk associated to over-reliance to any given customer. The company relies on a single large company for a significant proportion of its income. Failure of those contract would lead to a substantial reduction in revenue.

FUTURE DEVELOPMENTS

The board believe with the work already underway and in advanced negotiations the company should be able to maintain the turnover of the company within a reasonable margin and believe that this will put the company in a good position going forward.

ON BEHALF OF THE BOARD:

Mr M D Jaggard - Director

16 September 2026

The directors present their report with the financial statements of the company for the year ended 31 January 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of provision of contracting services.

DIVIDENDS

An interim dividend of £32.00 per share was paid on 6 April 2025. The directors recommend a final dividend of £16.00 per share, making a total of £48.00 per share for the year ended 31 January 2026.

The total distribution of dividends for the year ended 31 January 2026 will be £480,000 (2025: £2,932,000).

DIRECTORS

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

Mr M D Jaggard

Mr S C Jaggard

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Directors' Report 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 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, Hardcastle Burton LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr M D Jaggard - Director

16 September 2026

Opinion

We have audited the financial statements of Anglian Land Drainage Limited (the 'company') for the year ended 31 January 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, 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 January 2026 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 Directors' Report, 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Directors' Report 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 Directors' Report.

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:

Our approach was as follows:-

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that related to the reporting framework (FRS 102 and Companies Act 2006).

We obtained an understanding to how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through correspondence with management and a review of any correspondence received from regulatory bodies.

We assessed the susceptivity of the company's financial statements to material misstatement, including how fraud might occur by discussing this with management to understand the systems and controls of the company.

Based on our understanding we designed our audit procedures to identify non-compliance with such laws and regulations identified in the paragraphs above. Our procedures involved; journal entry testing; focusing on manual journals and journals indicating large or unusual transactions based on our understanding of the business; enquiries of management; market research into property valuations and focused testing in relation to revenue and management override.

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.

Kristi Johnson ACA CTA (Senior Statutory Auditor)

for and on behalf of Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

18 September 2026

TURNOVER

3

12,690,122

13,145,988

Cost of sales

7,933,710

8,463,931

GROSS PROFIT

4,756,412

4,682,057

Administrative expenses

2,103,819

2,088,598

2,652,593

2,593,459

Other operating income

41,871

41,155

OPERATING PROFIT

5

2,694,464

2,634,614

Interest receivable and similar income

29,344

1,601

2,723,808

2,636,215

Interest payable and similar expenses

6

89,872

64,986

PROFIT BEFORE TAXATION

2,633,936

2,571,229

Tax on profit

7

663,303

648,872

PROFIT FOR THE FINANCIAL YEAR

1,970,633

1,922,357

PROFIT FOR THE YEAR

1,970,633

1,922,357

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,970,633

1,922,357

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

2,579,380

2,715,150

Investment property

11

2,547,137

-

5,126,517

2,715,150

CURRENT ASSETS

Stocks

12

73,532

72,882

Debtors

13

2,876,777

2,778,379

Cash at bank and in hand

3,443,070

3,073,385

6,393,379

5,924,646

CREDITORS

Amounts falling due within one year

14

2,126,080

1,970,808

NET CURRENT ASSETS

4,267,299

3,953,838

TOTAL ASSETS LESS CURRENT LIABILITIES

9,393,816

6,668,988

CREDITORS

Amounts falling due after more than one year

15

(1,707,331

)

(441,026

)

PROVISIONS FOR LIABILITIES

19

(616,147

)

(648,257

)

NET ASSETS

7,070,338

5,579,705

CAPITAL AND RESERVES

Called up share

20

10,000

10,000

Retained earnings

21

7,060,338

5,569,705

SHAREHOLDERS' FUNDS

7,070,338

5,579,705

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2026 and were signed on its behalf by:

Mr M D Jaggard - Director

Mr S C Jaggard - Director

Called up

Retained

Total

share

earnings

equity

£

£

£

Balance at 1 February 2024

10,000

6,579,348

6,589,348

Changes in equity

Dividends

-

(2,932,000

)

(2,932,000

)

Total comprehensive income

-

1,922,357

1,922,357

Balance at 31 January 2025

10,000

5,569,705

5,579,705

Changes in equity

Dividends

-

(480,000

)

(480,000

)

Total comprehensive income

-

1,970,633

1,970,633

Balance at 31 January 2026

10,000

7,060,338

7,070,338

Cash flows from operating activities

Cash generated from operations

1

3,569,700

3,239,250

Interest paid

(34,363

)

-

Interest element of hire purchase payments paid

(55,509

)

(64,986

)

Tax paid

(1,016,502

)

(312,560

)

Net cash from operating activities

2,463,326

2,861,704

Cash flows from investing activities

Purchase of tangible fixed assets

(747,390

)

(794,301

)

Purchase of investment property

(2,547,137

)

-

Sale of tangible fixed assets

243,501

196,269

Interest received

29,344

1,601

Net cash from investing activities

(3,021,682

)

(596,431

)

Cash flows from financing activities

New loans in year

1,400,000

-

Loan repayments in year

5,324

-

New hire purchase contracts

375,505

367,404

Hire purchase repayments in year

(525,977

)

(549,240

)

Amount introduced by directors

153,189

36,545

Equity dividends paid

(480,000

)

(2,932,000

)

Net cash from financing activities

928,041

(3,077,291

)

Increase/(decrease) in cash and cash equivalents

369,685

(812,018

)

Cash and cash equivalents at beginning of year

2

3,073,385

3,885,403

Cash and cash equivalents at end of year

2

3,443,070

3,073,385

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

31.1.26

31.1.25

£

£

Profit before taxation

2,633,936

2,571,229

Depreciation charges

670,762

642,963

Profit on disposal of fixed assets

(31,103

)

(86,307

)

Finance costs

89,872

64,986

Finance income

(29,344

)

(1,601

)

3,334,123

3,191,270

Increase in stocks

(650

)

(3,471

)

(Increase)/decrease in trade and other debtors

(98,398

)

1,031,951

Increase/(decrease) in trade and other creditors

334,625

(980,500

)

Cash generated from operations

3,569,700

3,239,250

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 January 2026

31.1.26

1.2.25

£

£

Cash and cash equivalents

3,443,070

3,073,385

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

3,073,385

3,885,403

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.25

Cash flow

At 31.1.26

£

£

£

Net cash

Cash at bank

and in hand

3,073,385

(35,266

)

3,443,070

3,073,385

(35,266

)

3,443,070

Debt

Finance leases

(933,630

)

150,472

(783,158

)

Debts falling due

within 1 year

-

(42,816

)

(42,816

)

Debts falling due

after 1 year

-

(1,356,282

)

(1,356,282

)

(933,630

)

(1,248,626

)

(2,182,256

)

Total

2,139,755

(1,283,892

)

1,260,814

1.	STATUTORY INFORMATION

Anglian Land Drainage 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

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.

Going concern

The directors continue to adopt the going concern basis in preparing the financial statements which they consider to be appropriate for the following reasons.

Forecasts have been prepared for the 12 months following the date of approval of these financial statements showing continued cash inflows, considering the expiry dates of current contracts and likelihood of contract renewals. These forecasts indicate that the company is expected to be able to operate within the level of its current cash position and that the company will have sufficient liquidity to meet their liabilities as they fall due for that period.

Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions which impact on the reported amounts of assets and liabilities. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of estimation means that actual outcomes could differ from those estimates. The judgements and estimates that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the financial statements are as follows:

Depreciation of fixed assets:

The annual depreciation charge for all assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually.

Valuation of investment properties:

The valuation of investment properties is based on the most recent market value for the property. Subsequent to this, management assesses whether there are any indicators that a revaluation is required, taking into account changes in market conditions and other relevant factors.

Turnover

Turnover represents the fair value of consideration received or receivable for goods sold and services provided in the normal course of business, net of value added tax and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the customer, which is typically on delivery.

Revenue from services is recognised in the period in which the service is provided and when the outcome of the service can be reliably measured. This includes services provided under both formal contracts and informal arrangements.

Revenue is only recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

- 20% on reducing balance

Fixtures and fittings

- 25% on reducing balance

Motor vehicles

- 25% on reducing balance

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

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

Stocks

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

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, amounts owed by related parties and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Hire purchase and leasing commitments

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

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

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1997, was amortised evenly over its estimated useful life of ten years. At the year end, this had been fully amortised.

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:

31.1.26

31.1.25

£

£

Rendering of services

12,690,122

13,145,988

12,690,122

13,145,988

Turnover is attributable to landscape service activities, and all arises in the United Kingdom.

4.	EMPLOYEES AND DIRECTORS

31.1.26

31.1.25

£

£

Wages and salaries

1,515,386

1,527,279

Social security costs

194,864

165,478

Other pension costs

170,507

295,919

1,880,757

1,988,676

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

31.1.26

31.1.25

Directors

2

2

Admin

6

5

Labour

28

29

36

36

31.1.26

31.1.25

£

£

Directors' remuneration

24,158

24,720

Directors' pension contributions to money purchase schemes

20,000

145,206

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING PROFIT

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

31.1.26

31.1.25

£

£

Other operating leases

500,000

500,000

Depreciation - owned assets

282,159

303,661

Depreciation - assets on hire purchase contracts

388,603

339,302

Profit on disposal of fixed assets

(31,103

)

(86,307

)

Auditors' remuneration

17,000

-

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.1.26

31.1.25

£

£

Bank loan interest

34,363

-

Hire purchase

55,509

64,986

89,872

64,986

7.

TAXATION

Analysis of the tax charge

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

31.1.26

31.1.25

£

£

Current tax:

UK corporation tax

695,413

644,502

Deferred tax

(32,110

)

4,370

Tax on profit

663,303

648,872

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:

31.1.26

31.1.25

£

£

Profit before tax

2,633,936

2,571,229

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

658,484

642,807

Effects of:

Expenses not deductible for tax purposes

4,819

6,065

Total tax charge

663,303

648,872