REGISTERED NUMBER: 11099036 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 December 2025

for

Lyster Holdings Ltd

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Statement of Comprehensive Income

8

Consolidated Balance Sheet

9

Company Balance Sheet

10

Consolidated Statement of Changes in Equity

11

Company Statement of Changes in Equity

12

Consolidated Cash Flow Statement

13

Notes to the Consolidated Cash Flow Statement

14

Notes to the Consolidated Financial Statements

15

DIRECTORS:

V R Vernon

Miss L Vernon

J R Vernon

M Vernon

REGISTERED OFFICE:

Head Office Works

Lyster Road

Bootle

Liverpool

Merseyside

L20 1AS

REGISTERED NUMBER:

11099036 (England and Wales)

AUDITORS:

Douglas Fairless Partnership

Chartered Certified Accountants

and Statutory Auditors

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

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

Lyster Holdings Ltd is the holding company for Oil Salvage Ltd and Vernon Developments UK Ltd, owning 100% of the share capital in both companies Oil Salvage Ltd and Vernon Developments UK Ltd have been trading successfully for several decades.

Oil Salvage Ltd is one of Britain's largest specialist waste oil management and oil recycling organisations. The company remains committed to an ongoing capital expenditure programme to help satisfy ever changing waste oils legislation, which has seen large amounts of capital used to develop the site and plant & machinery which has led to continued compliance with waste oils legislation and has also resulted in improved profit margins.

Vernon Developments UK Ltd is company that owns and rents land to Oil Salvage Ltd in relation to the site that it trades from. Vernon Developments Ltd also trades occasionally in scrap metals.

REVIEW OF BUSINESS

The main group activity is through trading and recycling waste oil products through Oil Salvage Ltd. 2025 has seen Oil Salvage Ltd continue to deliver successful results year on year. The group turnover during 2025 has decreased, but is largely consistent with 2024. Group turnover for 2025 has come in at £19,542,605, compared to £20,151,364 in 2024, which is a 3.02% year on year decrease. The group turnover was driven almost entirely by Oil Salvage Ltd, which contributed £19,436,736.

Gross and net profit margins are considered by the directors to be a key performance indicator for both the group and the main trading subsidiary Oil Salvage Ltd. Gross profit margins are also consistent with 2024, with gross profit margins for the year coming in at 28.12% (2024 - 29.59%). Group profits before taxation have come in at £1,619,072 (2024 - £2,882,931) which is a 8.28% return for the year. Again, this is driven by the activity in Oil Salvage Ltd. Vernon Developments Ltd's main activity of the lease of the land that Oil Salvage Ltd trades from does not contribute material income to the group due to the elimination of inter group transactions.

The group, through Oil Salvage Ltd, will continue to invest in new plant & machinery to increase the purity of the oil they produce to open up new revenue streams and improve margins and comply with vehicle emissions standards, over £500,000 has been invested in 2025 in our fixed assets (see page 22). As previously mentioned, significant investment has taken place during 2025 and in the years prior to this, in specific plant & machinery, further investment in the site will continue through 2026, which is expected to allow further growth for Oil Salvage Ltd in 2026 and beyond.

The group has seen a cash increase from the previous year, after the decreased cash flows during 2024 relating the the groups investment in the expansion of newly built refinery which went online in 2025. The group is showing a cash increase of £805,187 at 31/12/2025, as detailed on page 16, despite investing over half a million pounds in asset investment during the year; the group maintains a healthy cash balance of £6,009,506 at 31/12/2025.

PRINCIPAL RISKS AND UNCERTAINTIES

The risks to the group lie within the main trading subsidiary, Oil Salvage Ltd. Routine Environment Agency site visits have not raised any concerns and show Lyster Holdings Ltd's commitment to minimising the impact of the group on the environment. Possible breach of environmental legislation and resulting fines will continue to be a risk to the group and will keep management on their toes. Further changes to regulations regarding the quality of waste oils could result in increases to direct costs, but the group has the margins to be able to absorb additional costs without it affecting the business significantly. The volatility of global oil prices will always be a risk to the performance of profit margins, but due to the buoyant market at present, the business will be able to withstand drops in oil prices comfortably in the short to medium term, which would give them time to adjust for the long term. The spike in global energy prices will continue to impact the net profit margins for the foreseeable future, but due to the economies of scale that the business is currently achieving, these increases in energy prices will be easily absorbed without impacting seriously on profit margins.

ON BEHALF OF THE BOARD:

V R Vernon - Director

22 September 2026

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of The principal activity of the company in the year under review was that of acquisitions, refinement and sale of oil.

DIVIDENDS

Interim dividends per share were paid as follows:

Ordinary A £1 shares

NIL

Ordinary B £1 shares

£1,021

Ordinary C £1 shares

£815

Ordinary D £1 shares

£1,038

Ordinary E £1 shares

£1,106

Preference shares

£1.50

The directors recommend that no final dividends be paid.

The total distribution of dividends for the period ended 31 December 2025 will be £1,029,700.

RESEARCH AND DEVELOPMENT

Lyster Holdings Ltd is committed to a continuing research & development program through it's main trading subsidiary Oil Salvage Ltd. Area's of research involve the development of processes to improve the quality of re-cycled oils and improvements to processes to improve the efficiency of the business.

DIRECTORS

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

V R Vernon

Miss L Vernon

J R Vernon

M Vernon

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

-	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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Douglas Fairless Partnership, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

V R Vernon - Director

22 September 2026

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company 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; 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 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 and 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 directors are responsible for the other information. The other information comprises the information in the Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 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 Statement of Directors' Responsibilities set out on page three, 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 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.

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:

Extent to which the audit was capable of detecting irregularities, including fraud

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.

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

- the nature of the industry and sector, the control environment and the impact of business performance on Directors earnings.

- results of our enquiries of management and key finance persons about their own identification and assessment of the risks and irregularities.

- any matters we identified after obtaining and reviewing company policies and procedures relating to; identifying, evaluating and complying with laws and regulations. Detecting and responding to risks of fraud. The internal controls in place to mitigate the risks of fraud or non-compliance with laws and regulations.

From this assessment, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis of our opinion. Our procedures to respond to risks identified included the following:

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

- 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 meetings of those charged with governance, reviewing correspondence with HMRC; and

- in addressing the risk of fraud through management override of controls; we have tested the operational effectiveness of internal controls relevant to the financial statements, tested the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

Mr Gregory Newton FCCA (Senior Statutory Auditor)

Douglas Fairless Partnership Douglas Fairless Partnership

Chartered Certified Accountants

and Statutory Auditors

Seymour Chambers

92 London Road

Liverpool

Merseyside

L3 5NW

22 September 2026

TURNOVER

3

19,542,605

20,151,364

Cost of sales

14,048,132

14,188,908

GROSS PROFIT

5,494,473

5,962,456

Administrative expenses

6,600,070

5,338,955

(1,105,597

)

623,501

Other operating income

2,587,815

2,101,722

OPERATING PROFIT

5

1,482,218

2,725,223

Interest receivable and similar income

136,854

157,708

PROFIT BEFORE TAXATION

1,619,072

2,882,931

Tax on profit

6

323,687

544,122

PROFIT FOR THE FINANCIAL YEAR

1,295,385

2,338,809

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,295,385

2,338,809

Profit attributable to:

Owners of the parent

1,295,385

2,338,809

Total comprehensive income attributable to:

Owners of the parent

1,295,385

2,338,809

FIXED ASSETS

Intangible assets

12

11,347

8,972

Tangible assets

13

12,943,553

13,662,163

Investments

14

-

-

12,954,900

13,671,135

CURRENT ASSETS

Stocks

15

1,654,890

1,711,250

Debtors

16

3,896,367

3,524,702

Cash at bank and in hand

6,009,506

5,204,319

11,560,763

10,440,271

CREDITORS

Amounts falling due within one year

17

2,126,306

1,959,183

NET CURRENT ASSETS

9,434,457

8,481,088

TOTAL ASSETS LESS CURRENT LIABILITIES

22,389,357

22,152,223

PROVISIONS FOR LIABILITIES

20

2,210,314

2,238,866

NET ASSETS

20,179,043

19,913,357

CAPITAL AND RESERVES

Called up share capital

21

101,105

101,105

Retained earnings

22

20,077,938

19,812,252

SHAREHOLDERS' FUNDS

20,179,043

19,913,357

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2026 and were signed on its behalf by:

V R Vernon - Director

FIXED ASSETS

Intangible assets

12

-

-

Tangible assets

13

-

-

Investments

14

101,100

101,100

101,100

101,100

CURRENT ASSETS

Debtors

16

181,551

154,642

Cash at bank

45,695

17,511

227,246

172,153

CREDITORS

Amounts falling due within one year

17

5,059

5,057

NET CURRENT ASSETS

222,187

167,096

TOTAL ASSETS LESS CURRENT LIABILITIES

323,287

268,196

CAPITAL AND RESERVES

Called up share capital

21

101,105

101,105

Retained earnings

22

222,182

167,091

SHAREHOLDERS' FUNDS

323,287

268,196

Company's profit for the financial year

1,084,791

895,056

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2026 and were signed on its behalf by:

V R Vernon - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

101,105

18,212,643

18,313,748

Changes in equity

Dividends

-

(739,200

)

(739,200

)

Total comprehensive income

-

2,338,809

2,338,809

Balance at 31 December 2024

101,105

19,812,252

19,913,357

Changes in equity

Dividends

-

(1,029,700

)

(1,029,700

)

Total comprehensive income

-

1,295,385

1,295,385

Balance at 31 December 2025

101,105

20,077,937

20,179,042

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

101,105

11,235

112,340

Changes in equity

Dividends

-

(739,200

)

(739,200

)

Total comprehensive income

-

895,056

895,056

Balance at 31 December 2024

101,105

167,091

268,196

Changes in equity

Dividends

-

(1,029,700

)

(1,029,700

)

Total comprehensive income

-

1,084,791

1,084,791

Balance at 31 December 2025

101,105

222,182

323,287

Cash flows from operating activities

Cash generated from operations

1

1,946,527

4,795,091

Tax paid

299,896

(527,764

)

Net cash from operating activities

2,246,423

4,267,327

Cash flows from investing activities

Purchase of intangible fixed assets

(7,000

)

(9,500

)

Purchase of tangible fixed assets

(541,179

)

(1,658,383

)

Interest received

136,854

157,708

Net cash from investing activities

(411,325

)

(1,510,175

)

Cash flows from financing activities

Amount introduced by directors

1,029,700

1

Amount withdrawn by directors

(1,029,911

)

(2,916,289

)

Equity dividends paid

(1,029,700

)

(739,200

)

Net cash from financing activities

(1,029,911

)

(3,655,488

)

Increase/(decrease) in cash and cash equivalents

805,187

(898,336

)

Cash and cash equivalents at beginning of year

2

5,204,319

6,102,655

Cash and cash equivalents at end of year

2

6,009,506

5,204,319

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

31.12.25

31.12.24

£

£

Profit before taxation

1,619,072

2,882,931

Depreciation charges

1,264,413

999,346

Loss on disposal of fixed assets

-

18,473

Government grants

(1

)

(1

)

Finance income

(136,854

)

(157,708

)

2,746,630

3,743,041

Decrease in stocks

56,360

1,045,462

(Increase)/decrease in trade and other debtors

(716,155

)

873,383

Decrease in trade and other creditors

(140,308

)

(866,795

)

Cash generated from operations

1,946,527

4,795,091

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31.12.25

1.1.25

£

£

Cash and cash equivalents

6,009,506

5,204,319

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

5,204,319

6,102,655

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

5,204,319

805,187

6,009,506

5,204,319

805,187

6,009,506

Total

5,204,319

805,187

6,009,506

1.	STATUTORY INFORMATION

Lyster Holdings Ltd 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 General 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.

Basis of consolidation

The consolidated financial statements incorporate those of Lyster Holdings Ltd and all of it's subsidiaries, all group companies are 100% subsidiaries of Lyster holdings Ltd.

All financial statements of the group companies are made up to 31st December 2023 and all intra-group transactions between group companies have been eliminated on consolidation.

Significant judgements and estimates

The directors have made judgements regarding the depreciation of fixed assets and provision for sludge within stock.

Turnover

Turnover represents net invoice value of goods or services provided during the period, excluding value added tax.

Revenue is recognised based on delivery date of the goods or service.

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 three years.

Tangible fixed assets

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

Freehold property

-

not provided

Short leasehold

-

Straight line over 20 years

Improvements to property

-

not provided

Plant and machinery

-

15% on reducing balance and 10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Freehold property is held at cost value for land, under FRS102 section 17.16 land is deemed to have an unlimited useful life therefore no depreciation is charged.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for any waste and evaporation element. Cost is based on the purchase price of oils determined by the average rate at the year end and including direct costs in relation to chemicals used to purify the oils in to a resalable product.

Financial instruments

The group only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from third parties and loans to and from

related parties.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Tax related to research & development claims is recognised in the year in which the refund is received.

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 charged to the profit & loss account in the year in which it is incurred. The costs are pure research & development directly related to improving the purity of the waste oil & the recycling processes.

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

3.

TURNOVER

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

An analysis of turnover by class of business is given below:

31.12.25

31.12.24

£

£

Sale of goods

17,945,241

17,639,751

Rendering of services

1,597,364

2,511,613

19,542,605

20,151,364

4.	EMPLOYEES AND DIRECTORS

31.12.25

31.12.24

£

£

Wages and salaries

4,354,538

4,266,649

Social security costs

517,013

438,114

Other pension costs

137,641

133,388

5,009,192

4,838,151

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

31.12.25

31.12.24

Management

4

4

Administration

25

26

Driver & yard operatives

66

64

95

94

31.12.25

31.12.24

£

£

Directors' remuneration

541,904

551,642

Information regarding the highest paid director is as follows:

31.12.25

31.12.24

£

£

Emoluments etc

146,168

148,791

5.	OPERATING PROFIT

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

31.12.25

31.12.24

£

£

Hire of plant and machinery

5,926

421

Depreciation - owned assets

1,259,789

998,817

Loss on disposal of fixed assets

-

18,473

Computer software amortisation

4,625

528

Auditors' remuneration

18,060

17,846

Other non- audit services

15,220

17,504

Foreign exchange differences

89,217

(13,537

)

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

543,298

495,295

Corporation tax adjustment

(191,059

)

(193,313

)

Total current tax

352,239

301,982

Deferred tax

(28,552

)

242,140

Tax on profit

323,687

544,122