CR24 Limited Group accounts (Group and Company)

COMPANY REGISTRATION NUMBER: SC643675

CR24 Limited

Financial Statements

For the year ended

31 December 2025

CR24 Limited

Financial Statements

Year ended 31 December 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	3

Independent auditor's report to the member	5

Consolidated statement of income and retained earnings	9

Company statement of income and retained earnings	10

Consolidated statement of financial position	11

Company statement of financial position	12

Consolidated statement of cash flows	13

Notes to the financial statements	14

CR24 Limited

Officers and Professional Advisers

The board of directors	C Robertson
	Mrs J Robertson

Registered office	200 Old Dalmarnock Road
	Glasgow
	G40 4DW

Auditor	Nelson Gilmour Smith
	Chartered accountants & statutory auditor
	Mercantile Chambers
	53 Bothwell Street
	Glasgow
	G2 6TB

CR24 Limited

Strategic Report

Year ended 31 December 2025

The Directors in preparing this report, have complied with s414C of the Companies Act 2006.

The company's principal activity during the year was that of an investment company. The groups main source of income comes from the trading subsidiary, Frontline Safety (UK) Limited, who's principal activity is the supply of gas detection and safety equipment to the trades and direct to consumers.

During the year the trading company focused towards increasing sales volume. Turnover increased from £13.1m to £14.3m despite challenging market conditions arising from Brexit and ongoing inflationary pressures within the local and EU economy. CR24 Ltd acquired a freehold investment property in March 2022 at a cost of £738,850 which it rents on a commercial basis. CR24 Ltd also provided loan funds to a company in which it acquired 12.5% of the ordinary share capital. The loan accrues interest at the rate of 8% per annum until repaid.

CR24 Ltd reported a profit for the year of £314,228 (2024: £194,938). The group profit before taxation amounted to £1,560,796 (2024: £1,430,578) and after taxation £1,178,906 (2024: £1,069,866). Operating profit of £1,561,207 (2024: £1,434,281) represented an increase of 8.8% relative to 2024.

Both the level of business and year-end financial position were satisfactory in light of economic conditions, and the Directors remain confident about the future prospects for the business as the economy adjusts. One of the key business risks and uncertainties affecting the company is the high volume of stock required to meet the level of product demand, which can be impacted through shifts in consumer demand and also through the wider economic situation through fluctuations in exchange rates. Other key business risks and uncertainties are presented by the ongoing trade negotiations between the UK and EU and by the ongoing inflationary pressures within the local and wider economy. It is likely that these factors will negatively impact turnover in the year to 31 December 2026 and beyond.

This report was approved by the board of directors on 28 August 2026 and signed on behalf of the board by:

C Robertson

Director

Registered office:

200 Old Dalmarnock Road

Glasgow

G40 4DW

CR24 Limited

Directors' Report

Year ended 31 December 2025

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

Directors

The directors who served the company during the year were as follows:

C Robertson
Mrs J Robertson

Dividends

Particulars of recommended dividends are detailed in note 12 to the financial statements.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, 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 group and the company and 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 judgments 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.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information.

This report was approved by the board of directors on 28 August 2026 and signed on behalf of the board by:

C Robertson

Director

Registered office:

200 Old Dalmarnock Road

Glasgow

G40 4DW

CR24 Limited

Independent Auditor's Report to the Member of CR24 Limited

Year ended 31 December 2025

Opinion

We have audited the financial statements of CR24 Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the consolidated statement of income and retained earnings, company statement of income and retained earnings, consolidated statement of financial position, company statement of financial position, consolidated statement of cash flows and the related notes, 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the group's and of the parent company's affairs as at 31 December 2025 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 group and the parent 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 in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the 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 the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the company, we identified the principal risks of non-compliance with laws and regulations and the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated managements' incentives and opportunities for the fraudulent manipulation of the financial statements, including the risk of override of controls. Based on our assessment we adopted a substantive approach to our audit testing. Audit procedures performed included: Testing a sample of transactions to source documentation. We select sample sizes having regard to the inherent risk (specific and general), the quality of the internal controls and the risk that our testing might not detect possible misstatements. Making enquiries of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims. Identifying legislation of particular relevance to the entity and obtaining audit evidence regarding compliance with that legislation. Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business There are inherent limitations in the audit procedures described above. 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 concealment. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report

This report is made solely to the company's member, 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 member 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 company and the company's member as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Wilson BA CA

(Senior Statutory Auditor)

For and on behalf of

Nelson Gilmour Smith

Chartered accountants & statutory auditor

Mercantile Chambers

53 Bothwell Street

Glasgow

G2 6TB

28 August 2026

CR24 Limited

Consolidated Statement of Income and Retained Earnings

Year ended 31 December 2025

		2025	2024
Note		£	£
Turnover	4	14,366,780	13,207,850

Cost of sales	11,840,829	10,649,098
	-------------	-------------
Gross profit	2,525,951	2,558,752

Administrative expenses		1,057,440	1,124,471
Other operating income	5	92,696	–
		------------	------------
Operating profit	6	1,561,207	1,434,281

Interest payable and similar expenses	10	411	3,703
		------------	------------
Profit before taxation		1,560,796	1,430,578

Tax on profit	11	381,890	360,712
		------------	------------
Profit for the financial year and total comprehensive income		1,178,906	1,069,866
		------------	------------

Dividends paid and payable	12	( 360,000)	( 352,000)

Retained earnings at the start of the year	7,116,687	6,398,821
	------------	------------
Retained earnings at the end of the year	7,935,593	7,116,687
	------------	------------

All the activities of the group are from continuing operations.

CR24 Limited

Company Statement of Income and Retained Earnings

Year ended 31 December 2025

	2025	2024
Note	£	£
Profit for the financial year and total comprehensive income	314,228	194,938
Retained earnings at the start of the year	1,098,184	903,246
	------------	------------
Retained earnings at the end of the year	1,412,412	1,098,184
	------------	------------

CR24 Limited

Consolidated Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	13	1,694,472	1,733,673
Investments	14	206,343	133,343
		------------	------------
		1,900,815	1,867,016

Current assets

Stocks	15	617,805	1,009,239
Debtors	16	4,582,067	1,283,969
Cash at bank and in hand		2,529,370	4,114,744
		------------	------------
		7,729,242	6,407,952

Creditors: amounts falling due within one year	17	1,620,188	1,074,456
		------------	------------
Net current assets		6,109,054	5,333,496
		------------	------------
Total assets less current liabilities		8,009,869	7,200,512

Provisions	19	74,173	83,722
		------------	------------
Net assets		7,935,696	7,116,790
		------------	------------

Capital and reserves

Called up share capital	22	100	100
Profit and loss account		7,935,593	7,116,687
		------------	------------
Equity attributable to the owners of the parent company		7,935,693	7,116,787

Non-controlling interests	3	3
	------------	------------
	7,935,696	7,116,790
	------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 28 August 2026 , and are signed on behalf of the board by:

C Robertson

Director

Company registration number: SC643675

CR24 Limited

Company Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	13	738,850	738,850
Investments	14	206,643	133,643
		---------	---------
		945,493	872,493

Current assets

Debtors	16	506,570	4,800
Cash at bank and in hand		514	260,396
		---------	---------
		507,084	265,196

Creditors: amounts falling due within one year	17	40,065	39,405
		---------	---------
Net current assets		467,019	225,791
		------------	------------
Total assets less current liabilities		1,412,512	1,098,284
		------------	------------
Net assets		1,412,512	1,098,284
		------------	------------

Capital and reserves

Called up share capital	22	100	100
Profit and loss account		1,412,412	1,098,184
		------------	------------
Shareholder funds		1,412,512	1,098,284
		------------	------------

The profit for the financial year of the parent company was £ 314,228 (2024: £ 194,938 ).

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 28 August 2026 , and are signed on behalf of the board by:

C Robertson

Director

Company registration number: SC643675

CR24 Limited

Consolidated Statement of Cash Flows

Year ended 31 December 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	1,178,906	1,069,866

Adjustments for:
Depreciation of tangible assets	190,583	184,109
Interest payable and similar expenses	411	3,703
Loss on disposal of tangible assets	6,134	2,579
Tax on profit	381,890	360,712
Accrued expenses	2,095	1,000

Changes in:
Stocks	391,434	291,276
Trade and other debtors	( 3,292,098)	( 151,018)
Trade and other creditors	602,010	( 362,861)
	------------	------------
Cash generated from operations	( 538,635)	1,399,366

Interest paid	( 411)	( 3,703)
Tax paid	( 447,538)	( 429,020)
	---------	------------
Net cash (used in)/from operating activities	( 986,584)	966,643
	---------	------------

Cash flows from investing activities

Purchase of tangible assets	( 163,344)	( 225,465)
Proceeds from sale of tangible assets	5,828	501
Cash advances and loans granted	( 73,000)	–
Purchases of other investments	–	( 12,000)
Proceeds from sale of other investments	–	39,579
	---------	------------
Net cash used in investing activities	( 230,516)	( 197,385)
	---------	------------

Cash flows from financing activities

Proceeds from borrowings	( 110)	( 180)
Payments of finance lease liabilities	( 8,164)	( 19,349)
Dividends paid	( 360,000)	( 352,000)
	---------	------------
Net cash used in financing activities	( 368,274)	( 371,529)
	---------	------------

Net (decrease)/increase in cash and cash equivalents	( 1,585,374)	397,729
Cash and cash equivalents at beginning of year	4,114,744	3,717,015
	------------	------------
Cash and cash equivalents at end of year	2,529,370	4,114,744
	------------	------------

CR24 Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 200 Old Dalmarnock Road, Glasgow, G40 4DW.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:

(a) Disclosures in respect of each class of share capital have not been presented.

(b) No cash flow statement has been presented for the company.

(c) Disclosures in respect of financial instruments have not been presented.

(d) No disclosure has been given for the aggregate remuneration of key management personnel.

Consolidation

The financial statements consolidate the financial statements of CR24 Limited and all of its subsidiary undertakings.

The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.

The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.

Non-controlling interests

Minority interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity. Minority interests consist of the amount of those interests at the date of the original business combination and the minority’s share of changes in equity since the date of the combination.

The proportions of profit or loss and changes in equity allocated to the owners of the parent and to the minority interests are determined on the basis of existing ownership interests and do not reflect the possible exercise or conversion of options or convertible instruments.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There were no judgements that management made in the process of applying the entity's accounting policies that are of material effect.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements	-	10% straight line
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	33% straight line

	Website	-	20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.

Investments in joint ventures

Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the joint venture.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	10,580,928	11,492,336
Rendering of services	3,761,852	1,691,514
Commercial rents	24,000	24,000
	-------------	-------------
	14,366,780	13,207,850
	-------------	-------------

The turnover is attributable to the one principal activity of the group. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

	2025	2024
	£	£
United Kingdom	13,606,635	11,997,232
Overseas	760,145	1,210,618
	-------------	-------------
	14,366,780	13,207,850
	-------------	-------------

5. Other operating income

	2025	2024
	£	£
Other operating income	92,696	–
	--------	----

6. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	190,583	184,109
Loss on disposal of tangible assets	6,134	2,579
Impairment of trade debtors	19,409	103,490
Foreign exchange differences	( 75)	–
	---------	---------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	7,500	7,000
	-------	-------

Fees payable to the company's auditor and its associates for other services:

Other non-audit services	8,200	7,200
	-------	-------

8. Staff costs

The average number of persons employed by the group during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	28	26
Administrative staff	2	2
Management staff	2	2
	----	----
	32	30
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	1,119,048	1,020,702
Social security costs	133,984	103,943
Other pension costs	34,605	212,425
	------------	------------
	1,287,637	1,337,070
	------------	------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	16,200	16,200
Company contributions to defined contribution pension plans	–	180,000
	--------	---------
	16,200	196,200
	--------	---------

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	No.	No.
Defined contribution plans	–	2
	----	----

10. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	–	2,863
Interest on obligations under finance leases and hire purchase contracts	411	840
	----	-------
	411	3,703
	----	-------

11. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	403,538	356,862
Adjustments in respect of prior periods	( 12,099)	–
	---------	---------
Total current tax	391,439	356,862
	---------	---------

Deferred tax:

Origination and reversal of timing differences	( 9,549)	3,850
	---------	---------
Tax on profit	381,890	360,712
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 50 % (2024: 50 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	1,560,796	1,430,578
	------------	------------
Profit on ordinary activities by rate of tax	446,973	384,735
Adjustment to tax charge in respect of prior periods	( 12,099)	–
Effect of expenses not deductible for tax purposes	3,797	3,314
Effect of capital allowances and depreciation	128	( 424)
Effect of revenue exempt from tax	( 56,909)	( 26,913)
	------------	------------
Tax on profit	381,890	360,712
	------------	------------

12. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2025	2024
	£	£
Dividends on Ordinary B shares of £1	155,000	151,000
Dividends on Ordinary C shares of £1	155,000	151,000
Dividends on Ordinary D shares of £1	50,000	50,000
	---------	---------
	360,000	352,000
	---------	---------

All dividends were paid via subsidiary company, Frontline Safety (UK) Limited.

13. Tangible assets

Group	Freehold property	Short leasehold property	Fixtures, fittings and equipment	Motor vehicles	Website	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2025	738,850	827,623	222,344	379,119	28,357	2,196,293
Additions	–	25,479	100,012	37,853	–	163,344
Disposals	–	–	–	( 36,223)	–	( 36,223)
	---------	---------	---------	---------	--------	------------
At 31 Dec 2025	738,850	853,102	322,356	380,749	28,357	2,323,414
	---------	---------	---------	---------	--------	------------
Depreciation
At 1 Jan 2025	–	159,804	127,444	147,015	28,357	462,620
Charge for the year	–	85,310	40,774	64,499	–	190,583
Disposals	–	–	–	( 24,261)	–	( 24,261)
	---------	---------	---------	---------	--------	------------
At 31 Dec 2025	–	245,114	168,218	187,253	28,357	628,942
	---------	---------	---------	---------	--------	------------
Carrying amount
At 31 Dec 2025	738,850	607,988	154,138	193,496	–	1,694,472
	---------	---------	---------	---------	--------	------------
At 31 Dec 2024	738,850	667,819	94,900	232,104	–	1,733,673
	---------	---------	---------	---------	--------	------------

Company	Freehold property
	£
Cost
At 1 January 2025 and 31 December 2025	738,850
	---------
Depreciation
At 1 January 2025 and 31 December 2025	–
	---------
Carrying amount
At 31 December 2025	738,850
	---------
At 31 December 2024	738,850
	---------

14. Investments

Group	Other investments other than loans	Other loans	Total
	£	£	£
Cost
At 1 January 2025	10	133,333	133,343
Additions	–	73,000	73,000
	----	---------	---------
At 31 December 2025	10	206,333	206,343
	----	---------	---------
Impairment
At 1 January 2025 and 31 December 2025	–	–	–
	----	---------	---------

Carrying amount
At 31 December 2025	10	206,333	206,343
	----	---------	---------
At 31 December 2024	10	133,333	133,343
	----	---------	---------

Company	Shares in group undertakings	Other investments other than loans	Other loans	Total
	£	£	£	£
Cost
At 1 January 2025	300	10	133,333	133,643
Additions	–	–	73,000	73,000
	----	----	---------	---------
At 31 December 2025	300	10	206,333	206,643
	----	----	---------	---------
Impairment
At 1 January 2025 and 31 December 2025	–	–	–	–
	----	----	---------	---------

Carrying amount
At 31 December 2025	300	10	206,333	206,643
	----	----	---------	---------
At 31 December 2024	300	10	133,333	133,643
	----	----	---------	---------

Subsidiaries, associates and other investments

Details of the investments in which the group and the parent company have an interest of 20% or more are as follows:

	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
Frontline Safety (UK) Ltd	200 Old Dalmarnock Road	Ordinary	100
	Glasgow
	G40 4DW
Frontline Safety Int'l Ltd	200 Old Dalmarnock Road	Ordinary	100
	Glasgow
	G40 4DW
ASM Procurement & Consultancy Ltd	200 Old Dalmarnock Road	Ordinary	100
	Glasgow
	G40 4DW

15. Stocks

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Raw materials and consumables	617,805	1,009,239	–	–
	---------	------------	----	----

16. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	3,921,774	1,251,804	2,400	4,800
Prepayments and accrued income	23,791	24,102	36,000	–
Directors loan account	468,170	–	468,170	–
Other debtors	168,332	8,063	–	–
	------------	------------	---------	-------
	4,582,067	1,283,969	506,570	4,800
	------------	------------	---------	-------

17. Creditors: amounts falling due within one year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade creditors	1,109,053	717,613	–	–
Accruals and deferred income	22,095	14,000	4,000	3,000
Corporation tax	103,538	159,637	28,865	29,095
Social security and other taxes	376,960	168,160	7,200	7,200
Obligations under finance leases and hire purchase contracts	–	8,164	–	–
Director loan accounts	–	110	–	110
Other creditors	8,542	6,772	–	–
	------------	------------	--------	--------
	1,620,188	1,074,456	40,065	39,405
	------------	------------	--------	--------

18. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Not later than 1 year	–	8,164	–	–
	----	-------	----	----

19. Provisions

Group	Deferred tax (note 20)
	£
At 1 January 2025	83,722
Unused amounts reversed	( 9,549)
	--------
At 31 December 2025	74,173
	--------

The company does not have any provisions.

20. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Included in provisions (note 19)	74,173	83,722	–	–
	--------	--------	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Accelerated capital allowances	74,173	83,722	–	–
	--------	--------	----	----

21. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 34,605 (2024: £ 32,425 ).

22. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

23. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company and its subsidiary undertakings:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
C Robertson	( 110)	468,280	468,170
	----	---------	---------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
C Robertson	( 110)	–	( 110)
	----	----	----

24. Related party transactions

Group

During the year the group entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Subsurface Holdings Ltd	–	–	133,333	133,333
Row Property Development Ltd	( 3,000)	27,580	3,000	–
	-------	--------	---------	---------

Transactions:- CR24 Ltd has provided loan funds of £133,333 to Subsurface Holdings Ltd, a company incorporated in Scotland in which CR24 Ltd owns 12.5% or the issued ordinary share capital. The loan accrues interest of 8% per annum. Frontline Safety (UK) Ltd advanced funds to Row Property Development Limited, a company incorporated in Scotland in which C Robertson is a director and 50% shareholder. Control:- The company was under the control of C Robertson throughout the period under review. C Robertson is the Managing Director and controls the entire issued share capital of the company.

Company

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Frontline Safety (UK) Limited	347,095	227,165	–	–
Subsurface Holdings Ltd	–	–	133,333	133,333
Row Property Development Ltd	( 3,000)	–	3,000	–
	---------	---------	---------	---------