REGISTERED NUMBER: 05497750 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2025

for

Rawlplug Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

R Koelner

Dr P Grandesso

Mrs M Smillie

SECRETARY:

SISEC Limited

REGISTERED OFFICE:

21 Holborn Viaduct

LONDON

EC1A 2DY

REGISTERED NUMBER:

05497750 (England and Wales)

AUDITORS:

TB Dunn & Co

Statutory Auditor

Ground Floor (part)

8000 Academy Business Park

51 Gower Street

GLASGOW

G51 1PR

SOLICITORS:

Lovells

21 Holborn Viaduct

London EC1A 2DY

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

REVIEW OF BUSINESS

The directors are encouraged by the results for the year ended 31 December 2025, despite a more challenging trading environment.

Financial Performance

The key financial highlights are as follows:

2025

2024

2023

£

£

£

Turnover

25,125,694

26,544,896

24,993,585

Turnover (decrease)/ growth

(5.4%)

6.2%

7.4%

Profit before taxation

2,243,470

2,657,768

2,586,372

Turnover for the year decreased by 5.4% to £25.1m (2024: £26.5m), reflecting softer demand across segments of the construction market and continued economic pressures.

Profit before taxation reduced to £2.24m (2024: £2.66m), primarily driven by lower volumes and ongoing cost pressures. However, overall profitability remained resilient.

Net assets decreased slightly from £13,484,376 at 31 December 2024 to £13,242,805 at 31 December 2025.

BUSINESS REVIEW

Rawlplug Ltd continues to operate as a leading supplier of mechanical fixings, chemical anchors, screw bolts and bespoke fastening solutions, serving customers across the UK and selected international markets.

While overall sales volumes were lower than the prior year, the Company maintained a strong market position and continued to deliver a solid performance in a more constrained environment.

STRATEGIC PROCESS

During the year, the Company focused on the following key strategic priorities:

-

Strengthening relationships with key construction and trade customers

-

Expanding the product range to include new and higher-performing anchoring solutions

-

Improving supply chain resilience through continued investment in inventory to reduce lead times

-

Developing digital tools to streamline order processing and inventory management

To support these objectives, the Company enhanced its supplier network and successfully launched a B2B e-commerce platform to improve customer accessibility and service levels.

OPERATIONAL PERFORMANCE

Despite the reduction in turnover, the Company demonstrated strong operational discipline:

-

Gross margins were maintained through improved procurement practices and a more favourable product mix

-

Customer retention remained high, supported by reliable next-day delivery and strong technical support

-

Continued investment in stock helped mitigate supply chain disruption and supported service levels

PRINCIPAL RISKS AND UNCERTAINTIES

The Company continues to monitor and manage a number of key risks, including:

-

Supply chain disruption arising from material shortages

-

Fluctuations in raw material and logistics costs

-

Regulatory changes affecting product standards and import/export requirements

-

Currency fluctuations impacting purchasing costs

These risks are mitigated through:

-

Diversified sourcing strategies

-

Forward purchasing and stock planning

-

Close supplier engagement to maintain delivery schedules

-

Ongoing compliance monitoring

FUTURE OUTLOOK

Looking ahead, the Company plans to:

-

Continue investing in customer service enhancements and operational efficiency

-

Introduce more sustainable fixings and product solutions

-

Strengthen and expand strategic partnerships with both existing and new customers

While market conditions remain uncertain, the Directors remain confident in the Company's ability to grow sustainably and respond effectively to changing market demands.

ON BEHALF OF THE BOARD:

Mrs M Smillie - Director

29 June 2026

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the distribution of fixings and tools to commerce and industry in the UK and overseas.

DIVIDENDS

An dividend of 16.5p per share was paid on 7 April 2025.

The total distribution of dividends for the year ended 31 December 2025 will be £1,897,500.

DIRECTORS

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

R Koelner

Dr P Grandesso

Mrs M Smillie

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, TB Dunn & Co, have expressed their willingness to continue in office.

ON BEHALF OF THE BOARD:

Mrs M Smillie - Director

29 June 2026

Opinion

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

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

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 is detailed below:

We identify and assess the risks of material misstatements of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we consider the following:

-

the nature of the industry and sector, control environment and business performance including the key drivers for Directors' remuneration, bonus levels and performance targets;

-

results of our enquiries of management about their own identification and assessment of the risks irregularities;

-

any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:

-

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

-

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

-

the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

-

the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we consider the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the cut-off of revenue recognition. In common with all audits under ISAs(UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosure in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, UK GAAP and the application of FRS 102 and HMRC tax compliance. We also considered key indirect laws and regulations, Health and Safety legislation, employment law and anti money laundering regulations.

In addition to the above, our procedures to respond to risks identified included the following:

-

assessing the adequacy of the company's related party disclosures in the financial statements;

-

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provision of relevant laws and regulations described as having a direct effect on the financial statements;

-

comparing information obtained during the course of the audit to external sources ( such as Companies House ) to identify potential undisclosed related parties;

-

enquiring of management concerning actual and potential litigation and claims;

-

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-

reading minutes of meeting of those charged with governance;

-

in addressing the fraud risk in revenue cut-off, we have tested a sample of revenue/stock recorded pre year end and post year end and agreed to invoice, and stock records to assess timing or cut-off and ensure that revenue is only recognised when goods have been dispatched; and

-

in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations through the audit.

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.

Mark Blair (Senior Statutory Auditor)

for and on behalf of TB Dunn & Co

Statutory Auditor

Ground Floor (part)

8000 Academy Business Park

51 Gower Street

GLASGOW

G51 1PR

29 June 2026

TURNOVER

3

25,125,694

26,544,896

Cost of sales

(17,618,434

)

(18,590,549

)

GROSS PROFIT

7,507,260

7,954,347

Distribution costs

(3,019,260

)

(3,281,387

)

Administrative expenses

(2,303,379

)

(2,138,648

)

2,184,621

2,534,312

Other operating income

75,335

143,646

OPERATING PROFIT

5

2,259,956

2,677,958

Interest payable and similar expenses

6

(16,486

)

(20,190

)

PROFIT BEFORE TAXATION

2,243,470

2,657,768

Tax on profit

7

(587,541

)

(691,722

)

PROFIT FOR THE FINANCIAL YEAR

1,655,929

1,966,046

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,655,929

1,966,046

FIXED ASSETS

Intangible assets

9

24,807

52,395

Tangible assets

10

1,543,655

1,572,913

1,568,462

1,625,308

CURRENT ASSETS

Stocks

11

6,301,064

6,160,107

Debtors

12

6,647,025

6,810,230

Cash at bank

1,231,077

1,716,961

14,179,166

14,687,298

CREDITORS

Amounts falling due within one year

13

(2,470,229

)

(2,785,930

)

NET CURRENT ASSETS

11,708,937

11,901,368

TOTAL ASSETS LESS CURRENT LIABILITIES

13,277,399

13,526,676

PROVISIONS FOR LIABILITIES

15

(34,594

)

(42,300

)

NET ASSETS

13,242,805

13,484,376

CAPITAL AND RESERVES

Called up share capital

16

11,500,000

11,500,000

Retained earnings

17

1,742,805

1,984,376

SHAREHOLDERS' FUNDS

13,242,805

13,484,376

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2026 and were signed on its behalf by:

Mrs M Smillie - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2024

11,500,000

(7,704,170

)

11,000,000

14,795,830

Changes in equity

Dividends

-

(3,277,500

)

-

(3,277,500

)

Total comprehensive income

-

12,966,046

(11,000,000

)

1,966,046

Balance at 31 December 2024

11,500,000

1,984,376

-

13,484,376

Changes in equity

Dividends

-

(1,897,500

)

-

(1,897,500

)

Total comprehensive income

-

1,655,929

-

1,655,929

Balance at 31 December 2025

11,500,000

1,742,805

-

13,242,805

1.	STATUTORY INFORMATION

Rawlplug 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all of the years presented, unless otherwise stated.

Going Concern

Having considered the company forecasts, the Directors remain of the view that the company has adequate resources to continue for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

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. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.

Turnover

Turnover represents sales to external customers as invoiced less value added tax or local taxes on sales. Turnover is recognised when goods are despatched to customers.

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.

Computer software is being amortised evenly over its estimated useful life of six years.

Tangible fixed assets

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

Freehold property

-

Straight line over 40 years

Machinery, equipment and tooling

-

20% on cost

Fixtures, fittings and computer equipment

-

20% to 33.33% on cost

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Foreign currencies

Foreign currency transactions are translated into sterling at the rates ruling when they occurred. Foreign currency monetary assets and liabilities are translated at the rates ruling at the balance sheet dates. Any differences are taken to the profit and loss account.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial instruments repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three month from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are ,measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at the fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Fixed Asset Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Leased assets

Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight-line basis over the term of the lease.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

24,797,085

26,333,031

Europe

302,294

175,707

Rest of the World

26,315

36,158

25,125,694

26,544,896

Turnover is wholly attributable to the principal activity of the company.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,139,711

2,304,721

Social security costs

296,352

265,446

Other pension costs

188,532

177,952

2,624,595

2,748,119

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

2025

2024

Distribution

40

41

Administration

5

5

COGS Services

2

2

47

48

2025

2024

£

£

Directors' remuneration

488,468

467,713

Directors' pension contributions to money purchase schemes

99,153

83,069

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

Money purchase schemes

2

2

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

399,957

368,594

Pension contributions to money purchase schemes

39,600

52,800

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

66,662

72,599

Computer software amortisation

27,588

37,996

Auditors' remuneration

21,000

21,000

Hire of motor vehicles - operating leases

185,073

181,550

Hire of equipment - operating leases

53,211

48,350

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Interest paid

16,486

20,190

7.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

595,247

691,048

Deferred tax

(7,706

)

674

Tax on profit

587,541

691,722

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:

2025

2024

£

£

Profit before tax

2,243,470

2,657,768

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

560,868

664,442

Effects of:

Expenses not deductible for tax purposes

15,744

3,207

Depreciation in excess of capital allowances

18,635

23,399

Change in recognised deductible temporary differences

(7,706

)

674

Total tax charge

587,541

691,722

8.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

1,897,500

3,277,500

9.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2025

and 31 December 2025

258,633

AMORTISATION

At 1 January 2025

206,238

Amortisation for year

27,588

At 31 December 2025

233,826

NET BOOK VALUE

At 31 December 2025

24,807

At 31 December 2024

52,395

10.	TANGIBLE FIXED ASSETS

Fixtures,

Machinery,

fittings

equipment

and

Freehold

and

computer

property

tooling

equipment

Totals

£

£

£

£

COST

At 1 January 2025

2,201,468

297,445

172,034

2,670,947

Additions

-

13,644

23,760

37,404

At 31 December 2025

2,201,468

311,089

195,794

2,708,351

DEPRECIATION

At 1 January 2025

759,253

184,964

153,817

1,098,034

Charge for year

44,612

12,486

9,564

66,662

At 31 December 2025

803,865

197,450

163,381

1,164,696

NET BOOK VALUE

At 31 December 2025

1,397,603

113,639

32,413

1,543,655

At 31 December 2024

1,442,215

112,481

18,217

1,572,913