The directors present the strategic report for the year ended 31 March 2026.
Victor Marine Limited
Worldwide events continue to create a difficult trading position, and we expect this to continue and probably “toughen” in 2026/2027.
New build projects are typically on hold with the only bright opportunity being investment in new products for the Chinese market which we anticipate being well received. We are exploring several options to support Chinese shipyards and ship owners who dominate the market.
Focus remains on seeking new worldwide agents and partners in support of improving our market presence and ability to generate new opportunities.
We continue to focus on “Engineered products and projects” with added value in support of the traditional standard product and spares business.
RLBS Limited
The year ending 31 March 2026 proved a productive year with ongoing focus on all aspects of refurbishment and remanufacture. The industry continues to focus on environmental issues for ongoing improvement and waste reduction and greater recycling in support of reducing overall costs.
New product launches with the main breweries and technical support functions have contributed to the growing turnover and are now established as “industry standards” and expected to increase turnover and profitability in the coming years.
Ongoing investment in the management team and all areas is producing greater controls and KPI achievement leading to improving efficiencies and overhead reduction.
Raw material costs have returned to more a stable condition and enabling more accurate quoting and cost controls.
Teknequip Limited and Teknequip Sp Z.oo
The aerospace sector remains generally buoyant with large investment in the defense market arena due to global events and greater government ( USA and EU) spending.
More stable energy prices reducing from a high point in 2023 has supported increased machining hours and overall capacity. Major customers continue to support with new projects and increasing volumes which bodes well for the coming year.
Investment in both UK and Polish sites in 2026/2027 will support proposed increase in capacity of 20% across turning and milling functions. We plan the continued investment beyond 2027 in support of customer interest and future schedules.
We continue to fabricate pressure vessels in Kalisz, but pressure remain on costs and remaining competitive.
Given the nature of the group's activities, the directors regard the principal risks that the group faces as the
technical operational efficiency of its key product ranges, the foreign currency exposure from the overseas markets
in which the group operates and the continued access to a skilled and loyal workforce to help deliver the group's
products and services. To mitigate these risks the directors continue to invest in maintaining and improving technical
and operational efficiency of its products and investing in the group's staff and where appropriate hedge its foreign
currency exposure.
The Groups key financial performance indicators during the year were as follows:
| 2026 | 2025 |
Turnover | £19.2m | £16.6m |
Gross Profit % | 33.95% | 34.84% |
Profit for the financial year | £1.26m | £1.80m |
On behalf of the board
The directors present their annual report and financial statements for the year ended 31 March 2026.
The results for the year are set out on page 8.
Ordinary dividends were paid amounting to £Nil (2025: £Nil). The directors do not recommend payment of a final dividend.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
The group's principal financial instruments comprise cash balances, foreign currency bank accounts, and a group overdraft, together with trade receivables, trade payables and other balances arising directly from its operations. The principal financial risks arising from the group's activities are liquidity risk, interest rate risk. foreign currency risk and credit risk. The directors review these risks on an ongoing basis and implement policies designed to minimise their impact on the group's financial performance.
Liquidity risk is managed through regular cash flow forecasting and the maintenance of appropriate funding facilities, including a group overdraft facility.
Interest rate risk arises principally from interest-bearing borrowings, including the group overdraft facility.
The group undertakes transactions in foreign currencies and maintains foreign currency bank accounts, principally to facilitate trading activities with overseas customers and suppliers. The company monitors its exposure to fluctuations in exchange rates and seeks to manage foreign currency risk through the matching of foreign currency receipts and payments where practicable. The group does not currently use derivative financial instruments or hedge accounting arrangements.
Credit risk arises principally from trade receivables. Exposure to trade receivables is managed through established credit control procedures and ongoing monitoring of customer balances.
The group will continue to focus on maintaining stable operations across its business units.
Sumer Auditco Limited were appointed as auditor to the company following BHP LLP becoming part of the Sumer Group on 31 December 2025, which required a change in audit firm to comply with applicable regulatory requirements.
United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company 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 group and parent company, and of the profit or loss of the group for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent 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 group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions applicable to groups and companies entitled to the exemptions of the small companies regime.
We have audited the financial statements of Samuel Hodge Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2026 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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).
Basis for opinion
Conclusions relating to going concern
Other information
Opinions on other matters prescribed by the Companies Act 2006
As explained more fully in the directors' responsibilities statement, 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 is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group's and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or parent company or to cease operations, or have no realistic alternative but to do so.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, 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 group through discussions with directors and other management, and from our commercial knowledge and experience of the sectors
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the group, including Companies Act 2006, taxation legislation, employment, environmental and health and safety legislation
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the groups financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
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.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation
enquiring of management as to actual and potential litigation and claims.
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 is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £0 (2025 - £0 profit).
Samuel Hodge Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Apex Office, Water Vole Way, Doncaster, South Yorkshire, DN4 5JP.
The group consists of Samuel Hodge Group Limited and all of its subsidiaries.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.
Comparative amounts in the Group Statement of Comprehensive Income (page 8) have been restated to reclassify consumable costs from administrative expenses to cost of sales. In addition, the wages and salaries disclosure in Note 5 has been restated to correct the comparative balance presented. These restatements effect presentation only and have no impact on the group's profit or reserves, as previously reported.
The consolidated group financial statements consist of the financial statements of the parent company Samuel Hodge Group Limited together with all entities controlled by the parent company (its subsidiaries).
All financial statements are made up to 31 March 2026. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.
All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.
At the time of approving the financial statements, the directors have a reasonable expectation that the group and parent company have adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Income receivable from rental contracts are charged to the profit and loss account in the period that they fall due.
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Following the revaluation depreciation is not provided on the group's freehold property. It is the group's policy to maintain the property in good repair and, as a consequence, the value of the property is not being reduced significantly by the passage of time. Hence in the opinion of the Directors any element of depreciation would be immaterial.
In line with FRS102 no provision for depreciation is made for land owned by the group or assets in the course of construction.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.
In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors 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.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.
Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
The group operates a defined benefit scheme of which most group companies are members. Further information on the scheme is given in note 21.
Accounting for defined benefit pensions is in accordance with FRS 102. This requires that the operating and financing costs of the group's defined benefit scheme are recognised separately in the profit and loss account; service costs are systematically spread over service lives of employees, financing costs are recognised in the periods in which they arise. Variations from expected costs, arising from experience of the scheme or changes in the actuarial assumptions, are recognised immediately in the statement of other comprehensive income. The difference between the fair value of assets and the present value of accrued pension liabilities estimated using the projected unit credit method, is shown as a liability in the balance sheet net of deferred tax.
The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in profit or loss as other finance revenue or cost.
Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other comprehensive income in the period in which they occur and are not reclassified to profit and loss in subsequent periods.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
The company estimates the useful lives and residual values of property, plant and equipment in order to calculate depreciation charges. Changes in these estimates could result in changes being required to annual depreciation charges in the statement of comprehensive income and the carrying values of property, plant and equipment.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
The present value of the Defined Benefit pension scheme surplus depends on a number of factors that are determined on an actuarial basis using a variety of assumptions. The assumptions used in determining the net cost or income for pensions include the discount rate which is an estimate. See note 21 for more details.
The fair value of the investment property has been arrived at on the basis of a valuation carried out in 2025 by German Fisher Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
The average monthly number of persons (including directors) employed by the group and company during the year was:
Their aggregate remuneration comprised:
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
In addition to the amount charged to the profit and loss account, the following amounts relating to tax have been recognised directly in other comprehensive income:
Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:
The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:
The fair value of the investment property has been determined by reference to a valuation performed in 2025 by Fisher German, Chartered Surveyors, who are independent of the company. The valuation was undertaken on an open market value basis using market evidence of transaction prices for comparable properties.
The director has reviewed the valuation as at 31 March 2026 and is satisfied that there has been no material change in the fair value of the investment property since the date of the independent valuation. Accordingly, the property continues to be carried at the 2025 valuation amount.
Details of the company's subsidiaries at 31 March 2026 are as follows:
The bank overdraft is secured by way of legal charges over certain properties held by the group.
Finance lease obligations are secured on the assets to which they relate.
The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:
The deferred tax liability set out above is expected to reverse and relates to accelerated capital allowances that are expected to mature within the same period.
A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.
The group operates a funded pension scheme of the defined benefit type, providing retirement benefits based on final salary. The scheme assets are held in a separately administered fund managed by a board of trustees. Valuations are carried out every three years by independent actuaries, and the contribution rate is decided on the basis of their recommendations.
In March 2025, the Scheme utilised their assets to purchase a buy-in insurance policy to insure the pensions payable under the Scheme. Under a buy-in insurance policy, the insurer makes payments to the pension scheme that are intended to exactly match the insured benefits payable from the pension scheme to its members. The policy is held as an asset of the Scheme for the benefit of all scheme members. The buy-in insurance policy was purchased as a natural step on the Scheme’s de-risking journey. The policy reduces the level of risk in the Scheme and protects the long-term security of members’ benefits.
The valuation used for FRS 102 disclosures has been based on a full assessment of the liabilities of the scheme as at 31 March 2026. The present value of the defined benefit obligation, the related current service cost and any past service costs were measured using the projected unit credit method.
The principal assumptions used to calculate the liabilities under FRS 102 are set out below:
Assumed life expectations on retirement at age 65:
In addition to the assumptions noted above, the assumptions are that a 60 year old male executive pensioner is assumed to live to 87.5 (2025: 86.8) and a male executive pensioner reaching 60 in 20 years time is assumed to live to 88.7 (2025: 88.0).
The amounts included in the balance sheet arising from obligations in respect of defined benefit plans are as follows:
Amounts recognised in the profit and loss account
Amounts taken to other comprehensive income
Movements in the present value of defined benefit obligations
The defined benefit obligations arise from plans funded as follows:
Movements in the fair value of plan assets
The actual return on plan assets was £1,025,000 (2025: £5,137,000).
Fair value of plan assets at the reporting period end
At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
Amounts contracted for but not provided in the financial statements:
The remuneration of key management personnel is as follows.
At the year end amounts owed to N D Crisford a director of the company, in respect of interest free loans totalled £3,010,000 (2025: £3,360,000) and is included within other creditors due over and under one year.