REGISTERED NUMBER: 06346867 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

MURFORM LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTORS:

L Murphy

P Murphy

D Murphy

L Murphy

B Dunbar

K Keenan

SECRETARY:

L Murphy

REGISTERED OFFICE:

Unit B2

Beckerings Business Park

Beckerings Park Estate

Lidlington

Bedfordshire

MK43 0RD

REGISTERED NUMBER:

06346867 (England and Wales)

AUDITORS:

Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

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

REVIEW OF BUSINESS

The principal activity of the Company is the provision of specialist construction services, including formwork, rebar, concrete, groundworks and hybrid frame services and associated civil engineering works for clients operating across the infrastructure, residential, commercial and industrial sectors.

The Directors consider that the Company has continued to perform well during the year despite ongoing economic challenges affecting the UK construction industry, including inflationary pressures, labour shortages, supply chain volatility and increased regulatory requirements.

As a family-owned business, the Company remains committed to delivering high-quality projects, maintaining long-term client relationships and investing in its people, systems and operational capabilities.

During the financial year, the Company generated turnover of £22,097,464 (2024: £17,417,031).

The Company continued to secure and successfully deliver projects across its principal markets, maintaining a strong reputation for safety, quality and reliability.

The Directors remain encouraged by the Company's order book and pipeline of opportunities and believe the business is well positioned to respond to future market opportunities.

The Company continues to operate with a prudent approach to financial management and cashflow, enabling it to maintain resilience in a competitive market environment.

PRINCIPAL RISKS AND UNCERTAINTIES

The construction sector continues to face several risks and uncertainties which are actively monitored by the Board.

Market and Economic Conditions

The Company operates within a cyclical construction market and is therefore exposed to changes in economic conditions, interest rates, investor confidence and general construction activity. The Directors mitigate this risk through diversification of clients, sectors and geographic locations.

Supply Chain and Material Costs

Material price volatility and supply chain disruptions remain a risk to project profitability. The Company actively monitors procurement activities and seeks to secure materials through approved suppliers and negotiated purchasing arrangements where possible.

Contractual and Commercial Risk

Construction projects involve inherent risks relating to programme delays, design changes, unforeseen ground conditions and contractual disputes. Robust contract review procedures, project management systems and commercial controls are maintained to minimise these risks.

Health and Safety

Construction activities present significant health and safety risks. The Company maintains comprehensive health and safety management systems and invests in training, supervision and compliance monitoring to ensure high standards are maintained throughout the business.

Cash Flow and Credit Risk

The timing of payments from customers and the financial stability of counterparties can impact cash flow. The Company undertakes credit assessments where appropriate, closely monitors aged debt and maintains regular cash flow forecasting.

BALANCED AND COMPREHENSIVE BUSINESS REVIEW

The Directors believe the Company's performance during the year reflects the strength of its market position, experienced management team and established client relationships. While inflationary pressures and market uncertainty continued to affect the wider construction industry, the Company maintained a stable workload and delivered projects successfully across its core disciplines.

INTERACTION OF ACCOUNTS AND STRATEGIC REPORT

The financial statements accompanying this report provide further detail regarding the Company's financial performance and financial position. The Directors have considered the results for the year together with current trading performance, available banking facilities, order book position and future forecasts in assessing the Company's ability to continue as a going concern. The information contained within the financial statements should be read in conjunction with this Strategic Report.

KEY PERFORMANCE INDICATORS (KPI'S)

The Directors assess the performance of the Company using a combination of financial and operational measures. Financial performance is evaluated through revenue growth, profitability, cash flow generation and the effective management of working capital. Operational performance is assessed through project delivery, health and safety outcomes, quality of workmanship, employee retention and the level of repeat business secured from existing clients.

- Revenue increased by 27%

- Operating profit increased by 300%

- Cash increased by 76%

- Working capital increased by 45%

As a specialist groundworks and reinforced concrete contractor, the Directors recognise that consistent project delivery, a strong safety culture and long-term client relationships are critical indicators of business performance. These measures are reviewed regularly by management and are used to support strategic decision-making and the continued development of the Company.

FUTURE DEVELOPMENTS

The Directors anticipate continued demand for specialist groundworks and reinforced concrete services across the residential, infrastructure and commercial sectors.

The Company's objectives for the coming year include:

- Maintaining sustainable and profitable growth.

- Strengthening client relationships and securing repeat business.

- Investing in people, training and succession planning.

- Investing in plant and equipment.

- Continuing to improve health, safety and environmental performance.

- Enhancing operational efficiency through technology and improved management information systems.

- Expanding opportunities within existing and complementary market sectors.

The Directors remain cautious of wider economic conditions but are confident that the Company's reputation, experienced workforce and strong client base provide a solid platform for continued success.

ON BEHALF OF THE BOARD:

L Murphy - Director

23 September 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 specialised construction activities.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTORS

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

L Murphy

P Murphy

D Murphy

L Murphy

Other changes in directors holding office are as follows:

B Dunbar - appointed 22 January 2025

K Keenan - appointed 22 January 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Oury Clark Chartered Accountants, are deemed to be re-appointed under Section 487 (2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

L Murphy - Director

23 September 2026

Opinion

We have audited the financial statements of Murform Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other 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 and one day 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 inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be misstated. If we identify such inconsistencies or apparent 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 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 any matters in the Strategic Report and the Report of the Directors that are inconsistent with our overall view of the financial statements.

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.

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.

Identifying and assessing potential irregularities, including fraud

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

Considering the nature of the industry, sector, control environment and current business activities, including possible performance targets and subsequent remuneration.

Enquiring of management concerning policies and procedures relating to:

1. Complying with laws and regulations and whether there were any instances of non-compliance;

2. Mitigating, detecting and responding to fraud risk and whether there has been any actual or possible instances of fraud.

Discussing within the engagement team regarding how and where fraud may occur in the financial statements along with the possible indicators of fraud. We identified the following areas most likely to be susceptible to fraud:

1. Management override;

2. Revenue recognition

3. Accrued revenue/ WIP

Discussing with the engagement team, the legal and regulatory framework in which the company operates and in particular those which would have an impact on the financial statements. The key laws and regulations considered were the Companies Act 2006, UK tax legislation, UK employment law and UK Health and safety regulations.

Audit response to the risks identified

As noted above, we identified management override, revenue recognition and accrued revenue/ WIP as the matters that would most likely be susceptible to fraud. Our procedures to respond to these risks included the following:

1. Reviewing all journals posted during the year and the nominal ledger and investigating large or unusual transactions;

2. Performing a detailed sales test of detail

3. Performing cut off testing to ensure that revenue is recognised in the correct period.

Further, we also identified compliance with the Companies Act 2006, UK tax legislation, UK employment law and UK Health & Safety regulations as being key areas where there may be possible non-compliance. Our procedures to respond to these risks included the following:

1. Review the disclosures in the financial statements through completion of a disclosure checklist and testing disclosures to supporting documentation to assess compliance with the Companies Act 2006;

2. Review the corporation tax return to ensure it complies with UK tax legislation and completion of our detailed corporation tax checklist;

3. Safeguard review of financial statements by a qualified accountant independent of the audit team;

4. Safeguard review of corporation tax computations by a person qualified as a Chartered Tax Advisor or equivalent, independent of the audit team;

5. Checking a sample of compliance with right to work checks and reviewed legal fees for indications of material issues arising out of non-compliance with employment law.

6. Reviewing a sample of Health & Safety assessments to assess whether the entity is following the relevant regulations.

The above matters and identified laws and regulations and potential fraud risks were communicated to all engagement team members, in order to enable the team to have the ability to identify such risks. The whole team remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and 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.

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.

Rachel Lockwood (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

24 September 2026

TURNOVER

22,097,464

17,417,031

Cost of sales

14,952,764

13,234,134

GROSS PROFIT

7,144,700

4,182,897

Administrative expenses

4,428,091

3,504,546

OPERATING PROFIT

4

2,716,609

678,351

Interest receivable and similar income

29,385

20,843

2,745,994

699,194

Interest payable and similar expenses

5

3,142

2,577

PROFIT BEFORE TAXATION

2,742,852

696,617

Tax on profit

6

664,476

267,284

PROFIT FOR THE FINANCIAL YEAR

2,078,376

429,333

PROFIT FOR THE YEAR

2,078,376

429,333

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,078,376

429,333

FIXED ASSETS

Tangible assets

7

941,492

637,413

CURRENT ASSETS

Stocks

8

62,120

70,212

Debtors

9

3,619,396

2,925,424

Cash at bank and in hand

3,016,308

1,714,996

6,697,824

4,710,632

CREDITORS

Amounts falling due within one year

10

969,872

756,899

NET CURRENT ASSETS

5,727,952

3,953,733

TOTAL ASSETS LESS CURRENT LIABILITIES

6,669,444

4,591,146

CREDITORS

Amounts falling due after more than one year

11

(25,727

)

(25,805

)

PROVISIONS FOR LIABILITIES

14

(52,080

)

(52,080

)

NET ASSETS

6,591,637

4,513,261

CAPITAL AND RESERVES

Called up share capital

15

4

4

Retained earnings

16

6,591,633

4,513,257

SHAREHOLDERS' FUNDS

6,591,637

4,513,261

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2026 and were signed on its behalf by:

L Murphy - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

4

4,083,924

4,083,928

Changes in equity

Total comprehensive income

-

429,333

429,333

Balance at 31 December 2024

4

4,513,257

4,513,261

Changes in equity

Total comprehensive income

-

2,078,376

2,078,376

Balance at 31 December 2025

4

6,591,633

6,591,637

1.	STATUTORY INFORMATION

Murform Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the forseeable future, being a period of at least 12 months and one day from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Critical accounting judgements and key sources of estimation uncertainty

Management is of the opinion that there are no critical judgements (other than those involving estimates) that have a significant effect on the amounts recognised in the financial statements.

Impairment of work in progress

The company reviews its amounts of work in progress outstanding on a continuous basis for any objective evidence of impairment by considering factors including the ageing profile and likelihood of obtaining customer sign off on outstanding balances.

Impairment of trade debtors

The company assesses its trade debtors on a continuous basis for any objective evidence of impairment by considering factors, including the ageing profile, the credit worthiness and the past collection history of each debtor.

Turnover

Turnover relates to the provision of construction and related services, and is recognised in line with underlying contractual work completion stages as agreed with customers.

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

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Land and buildings

- 2% on cost

Fixtures and Fittings

- 25% on cost

Motor Vehicles

- 20% on cost

Plant and machinery etc

- 20% on cost

Work in progress

Work in progress represents the extent of materials used and work completed as at the year end, taking due allowance for any expected losses realised or anticipated at that date.

Financial instruments

Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Tax assets and associated balances arising from research and development tax credit claims are recognised in the period in which the claim is made.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

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

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

31.12.25

31.12.24

£

£

Wages and salaries

659,178

550,348

Social security costs

72,511

54,748

Other pension costs

7,693

8,946

739,382

614,042

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

31.12.25

31.12.24

Operating and administrative headcount

11

11

31.12.25

31.12.24

£

£

Directors' remuneration

243,000

-

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

Money purchase schemes

3

1

Information regarding the highest paid director for the year ended 31 December 2025 is as follows:

31.12.25

£

Emoluments etc

135,000

During the year, two employees were appointed as director's of the company. They now receive director's remuneration which is effectively a reallocation of total wage costs rather than an additional commitment.

4.	OPERATING PROFIT

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

31.12.25

31.12.24

£

£

Other operating leases

235,141

301,350

Depreciation - owned assets

345,020

229,488

Profit on disposal of fixed assets

(5,634

)

(6,210

)

Foreign exchange differences

8,396

4,056

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.25

31.12.24

£

£

Hire purchase

3,142

2,577

6.

TAXATION

Analysis of the tax charge

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

31.12.25

31.12.24

£

£

Current tax:

UK corporation tax

664,476

267,284

Tax on profit

664,476

267,284

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.25

31.12.24

£

£

Profit before tax

2,742,852

696,617

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

685,713

174,154

Effects of:

Expenses not deductible for tax purposes

35,115

95,065

Capital allowances in excess of depreciation

(54,330

)

(383

)

Profit on disposal of assets

(2,022

)

(1,552

)

Total tax charge

664,476

267,284

7.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 January 2025

174,309

11,280

1,015,584

Additions

-

-

465,313

Disposals

-

-

(94,995

)

At 31 December 2025

174,309

11,280

1,385,902

DEPRECIATION

At 1 January 2025

31,249

8,215

692,257

Charge for year

3,487

613

227,303

Eliminated on disposal

-

-

(76,292

)

At 31 December 2025

34,736

8,828

843,268

NET BOOK VALUE

At 31 December 2025

139,573

2,452

542,634

At 31 December 2024

143,060

3,065

323,327

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2025

42,977

518,962

1,763,112

Additions

3,246

215,985

684,544

Disposals

-

(24,500

)

(119,495

)

At 31 December 2025

46,223

710,447

2,328,161

DEPRECIATION

At 1 January 2025

32,740

361,238

1,125,699

Charge for year

5,304

108,313

345,020

Eliminated on disposal

-

(7,758

)

(84,050

)

At 31 December 2025

38,044

461,793

1,386,669

NET BOOK VALUE

At 31 December 2025

8,179

248,654

941,492

At 31 December 2024

10,237

157,724

637,413

Included within plant & machinery are assets under a hire purchase agreement with net book value at 31st December 2025 of £88,018 (2024: £65,780).

8.

STOCKS

31.12.25

31.12.24

£

£

Work-in-progress

62,120

70,212

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

1,208,898

909,875

Amounts owed by related parties

322,800

362,400

VAT

200,925

417,664

Prepayments and accrued income

1,886,773

1,235,485

3,619,396

2,925,424

Included in amounts owed by related parties is an amount owed by Growtown Property Services Ltd, a related party. Whilst this balance is repayable on demand the expectation is that it will be received gradually over a number of years.