REGISTERED NUMBER: 03468426 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

C J COX LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Independent Auditors' Report

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

Mrs V J Cox

C J Cox

SECRETARY:

Mrs V J Cox

REGISTERED OFFICE:

Bagber

Sturminster Newton

Dortset

DT10 2HT

REGISTERED NUMBER:

03468426 (England and Wales)

AUDITORS:

Andrews and Palmer Limited

Statutory Auditor

32 The Square

Gillingham

Dorset

SP8 4AR

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

REVIEW OF BUSINESS

The company is an independent company owned by the Directors. The principal activities of the company is the sale of new and second hand tractors and agricultural machinery and the servicing, maintenance and repair of equipment used in the agricultural sector. The company operates from premises at Bagber near Sturminster Newton in Dorset, the shop, offices, workshop and yard being owned by the Directors of the company. In late 2022 the company opened additional premises at Chard in Somerset.

The company operates as an agent for a number of manufacturers the major one being Valtra. Valtra is part of the AGCO Corporation and manufactures tractors and agricultural equipment in Suolahti, Finland.

Negotiations are ongoing with other manufacturers in the agricultural equipment sector for additional franchises that would fit symbiotically with existing agreements.

The performance of the company continues to be strong with the result that it is a Medium sized company under the Companies Act 2006; both turnover and gross assets having exceeded the thresholds and are expected to remain over these thresholds. The company's growth has been organic through building steadily on its base of service and reliability in a market that gives such qualities a high significance.

The continued training and quality of staff is very important and the company actively engages in the development of apprentices.

PRINCIPAL RISKS AND UNCERTAINTIES

The company is not wholly dependant on the income generated through the franchises and the support of the manufacturers. However, this is a significant contributor to the growth of the company and the level of this support can vary from year to year depending on the level of activity.

The Government is reviewing and has published papers on the future of the agricultural grants and subsidies system. If these were to be dramatically cut it could well affect the demand for new equipment in the agricultural sector.

If demand for new machines reduces it could be replaced by the increased demand on the secondhand market and the repairs and maintenance market the company is already well established in both of these.

The company operates in a competitive market but the directors are of the opinion that the quality of service, experience and business, as well as customer relationships built up over many years together with its reputation give the company a competitive edge in the market place.

KEY PERFORMANCE INDICATORS

The directors consider that the very nature of the business is relatively straight forward the standard figures produced in the financial statements are therefore sufficient for the necessary understanding of the development and performance of the business. The key indicators would be: Turnover, Operating profit and Cash at bank together with Net Assets.

ON BEHALF OF THE BOARD:

Mrs V J Cox - Secretary

25 September 2026

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

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of agricultural engineers.

DIVIDENDS

Interim dividends per share were paid as follows:

£120

- 11 December 2025

£10

- 31 December 2025

£130

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2025 will be £ 130,000 .

DIRECTORS

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

Mrs V J Cox

C J Cox

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, Andrews and Palmer Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mrs V J Cox - Secretary

25 September 2026

Qualified Opinion

We have audited the financial statements of C J Cox 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, Cash Flow Statement and Notes to the 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, except for the possible effects on the corresponding figures of the matters described in the basis for qualified opinion section of our report, the financial statements:

- give a true and fair view of the state of the company’s affairs as at 31 December 2025 and of the company’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 qualified opinion

We were not appointed as auditors of the company until after 31 December 2024 and thus did not observe the counting of physical inventories at that end of the year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities of £6,402,605 held at 31 December 2024. Consequently we were unable to determine whether any adjustment to this amount at 31 December 2024 was necessary or whether there was any consequential effect on the cost of sales for the year ended 31 December 2025.

Additionally we were unable to satisfy ourselves concerning the inventory quantities of £5,622,266 held at 31 December 2023. Consequently we were unable to determine whether there was any consequential effect on the cost of sales for the year ended 31 December 2024. Our audit opinion on the financial statements for the year ended 31 December 2024 was modified accordingly. Our opinion on the current period's financial statements is also modified because of the possible effect of this matter on the comparability of the current period's figures and the corresponding figures.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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 qualified 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 Auditors' Report 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

Except for the matters described in the "Basis for qualified opinion" section of our report, in the light of our 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.

Arising solely from the limitation on the scope of our work relating to inventory referred to above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

- we were unable to determine whether adequate accounting records have been kept.

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

- 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 or returns; or

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

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including the Companies Act 2006. In common with all audits under ISAs (UK), we are also required to identify management override as a significant risk and to perform specific procedures to respond to that risk. Our procedures included reviewing the financial statement disclosures and testing supporting documentation to assess compliance with laws and regulations having a direct effect on the financial statements. We also made enquiries of management and performed analytical and substantive procedures to identify unusual or unexpected events that may indicate risks of material misstatement due to fraud. We tested the appropriateness of journal entries and assessed whether judgements made are indicative of potential bias. 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 throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities 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 Auditors' Report.

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 an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Jarratt BA(Hons) BFP FCA (Senior Statutory Auditor)

for and on behalf of Andrews and Palmer Limited

Statutory Auditor

32 The Square

Gillingham

Dorset

SP8 4AR

25 September 2026

TURNOVER

3

19,936,990

19,045,034

Cost of sales

18,062,617

16,843,737

GROSS PROFIT

1,874,373

2,201,297

Administrative expenses

591,918

651,412

1,282,455

1,549,885

Other operating income

19,049

10,648

Gain/loss on revaluation of investment property

(33,000

)

107,000

OPERATING PROFIT

5

1,268,504

1,667,533

Interest receivable and similar income

12,107

2,922

PROFIT BEFORE TAXATION

1,280,611

1,670,455

Tax on profit

6

348,058

407,751

PROFIT FOR THE FINANCIAL YEAR

932,553

1,262,704

PROFIT FOR THE YEAR

932,553

1,262,704

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

932,553

1,262,704

FIXED ASSETS

Tangible assets

8

1,407,504

1,454,553

Investment property

9

785,723

807,000

2,193,227

2,261,553

CURRENT ASSETS

Stocks

10

5,913,898

6,402,605

Debtors

11

1,707,402

2,007,330

Cash at bank

1,787,929

281,134

9,409,229

8,691,069

CREDITORS

Amounts falling due within one year

12

875,712

1,029,358

NET CURRENT ASSETS

8,533,517

7,661,711

TOTAL ASSETS LESS CURRENT LIABILITIES

10,726,744

9,923,264

PROVISIONS FOR LIABILITIES

13

113,544

112,617

NET ASSETS

10,613,200

9,810,647

CAPITAL AND RESERVES

Called up share capital

14

1,000

1,000

Fair value reserve

15

161,540

213,040

Retained earnings

15

10,450,660

9,596,607

SHAREHOLDERS' FUNDS

10,613,200

9,810,647

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2026 and were signed on its behalf by:

C J Cox - Director

Mrs V J Cox - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2024

1,000

8,579,895

107,208

8,688,103

Changes in equity

Dividends

-

(140,160

)

-

(140,160

)

Total comprehensive income

-

1,156,872

105,832

1,262,704

Balance at 31 December 2024

1,000

9,596,607

213,040

9,810,647

Changes in equity

Dividends

-

(130,000

)

-

(130,000

)

Total comprehensive income

-

984,053

(51,500

)

932,553

Balance at 31 December 2025

1,000

10,450,660

161,540

10,613,200

Cash flows from operating activities

Cash generated from operations

1

2,147,362

632,074

Tax paid

(421,882

)

(192,657

)

Net cash from operating activities

1,725,480

439,417

Cash flows from investing activities

Purchase of tangible fixed assets

(96,485

)

(267,372

)

Purchase of investment property

(11,723

)

-

Sale of tangible fixed assets

9,250

2,500

Interest received

12,107

2,922

Net cash from investing activities

(86,851

)

(261,950

)

Cash flows from financing activities

Amount introduced by directors

-

158,294

Amount withdrawn by directors

(1,834

)

(204,281

)

Equity dividends paid

(130,000

)

(140,160

)

Net cash from financing activities

(131,834

)

(186,147

)

Increase/(decrease) in cash and cash equivalents

1,506,795

(8,680

)

Cash and cash equivalents at beginning of year

2

281,134

289,814

Cash and cash equivalents at end of year

2

1,787,929

281,134

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

31.12.25

31.12.24

£

£

Profit before taxation

1,280,611

1,670,455

Depreciation charges

138,927

157,236

(Profit)/loss on disposal of fixed assets

(4,643

)

4,562

Loss/(gain) on revaluation of fixed assets

33,000

(107,000

)

Finance income

(12,107

)

(2,922

)

1,435,788

1,722,331

Decrease/(increase) in stocks

488,707

(780,339

)

Decrease/(increase) in trade and other debtors

299,928

(241,747

)

Decrease in trade and other creditors

(77,061

)

(68,171

)

Cash generated from operations

2,147,362

632,074

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

1,787,929

281,134

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

281,134

289,814

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank

281,134

1,506,795

1,787,929

281,134

1,506,795

1,787,929

Total

281,134

1,506,795

1,787,929

1.	STATUTORY INFORMATION

C J Cox 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 as modified by the revaluation of investment property.

The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The area involving a higher degree of judgement nor complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed below.

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.

Significant accounting estimates and assumptions:

i) The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives of the assets. The useful economic lives are re-assessed annually and amended when necessary to reflect current estimates based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

ii) The fair value of investment property is determined by management, who consider factors including the physical condition of the property and demand within the property market. This will be re-assessed on an annual basis.

iii) It is necessary to consider the recoverability of cost of the stock and the associated provisioning required. When calculating any stock provision management considers the nature and age of the stock as well as applying assumptions around anticipated saleability of the items.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Revenue from the sale of agricultural equipment is recognised when the company has transferred the risks and rewards of ownership to the buyer, the company retains no effective control over the goods sold and the revenue receivable can be measured reliably. This occurs when the agricultural equipment has been collected by or delivered to the customer.

Revenue from the sale of parts and the provision of servicing work is recognised when the company has transferred the risks and rewards of ownership to the buyer or completed the work and returned the item on which the servicing was completed. The company retains no effective control over the goods sold and the revenue receivable can be measured reliably. This occurs when the parts have been collected by or delivered to the customer and when the services have been completed and the item on which they were completed has been returned.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at annual rates in order to write off each asset over its estimated useful life, as follows:

Freehold land - not depreciated

Freehold property - 4% on cost

Leasehold - 4% on cost

Plant & machinery - 25% on reducing balance

Fixtures and fittings - 25% on reducing balance

Motor vehicles - 25% reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is determined using the specific identification method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the stock to its present location and condition.

Financial instruments

A) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Such assets are carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment, with any impairment loss recognised in profit and loss.

B) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due in one year or less and are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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.

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.

Pension costs and other post-retirement benefits

The company contributes to defined contribution pension schemes for its directors and employees. A defined

contribution plan is a pension plan under which the group pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in other creditors in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3.

TURNOVER

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

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

31.12.25

31.12.24

£

£

Sale of machinery

16,528,479

15,748,204

Sale of servicing incl. parts

3,408,511

3,296,830

19,936,990

19,045,034

4.	EMPLOYEES AND DIRECTORS

31.12.25

31.12.24

£

£

Wages and salaries

1,437,403

1,368,377

Social security costs

162,961

142,504

Other pension costs

31,075

29,477

1,631,439

1,540,358

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

31.12.25

31.12.24

Direct labour

34

33

Management staff

2

2

36

35

31.12.25

31.12.24

£

£

Directors' remuneration

42,232

46,240

Directors' pension contributions to money purchase schemes

765

835

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

Money purchase schemes

2

2

Total directors' remuneration during the year amounted to £42,997 (2024: £47,075).

5.	OPERATING PROFIT

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

31.12.25

31.12.24

£

£

Depreciation - owned assets

138,927

157,236

(Profit)/loss on disposal of fixed assets

(4,643

)

4,562

Auditors' remuneration

15,000

9,500

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

347,131

379,293

Deferred tax

927

28,458

Tax on profit

348,058

407,751

UK corporation tax has been charged at 25% (2024 - 25%).

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:

31.12.25

31.12.24

£

£

Profit before tax

1,280,611

1,670,455

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

320,153

417,614

Effects of:

Expenses not deductible for tax purposes

9,382

-

Income not taxable for tax purposes

-

(26,750

)

Depreciation in excess of capital allowances

18,523

11,592

Increase in rate of corporation tax to 25%

-

5,295

Total tax charge

348,058

407,751

7.

DIVIDENDS

31.12.25

31.12.24

£

£

Ordinary shares of £1 each

Interim

130,000

140,160

8.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Leasehold

machinery

£

£

£

COST

At 1 January 2025

969,633

330,701

235,318

Additions

9,366

-

14,542

Disposals

-

-

-

Reclassification/transfer

48,328

(48,328

)

-

At 31 December 2025

1,027,327

282,373

249,860

DEPRECIATION

At 1 January 2025

89,975

131,838

148,184

Charge for year

30,202

6,343

23,452

Eliminated on disposal

-

-

-

Reclassification/transfer

8,055

(8,055

)

-

At 31 December 2025

128,232

130,126

171,636

NET BOOK VALUE

At 31 December 2025

899,095

152,247

78,224

At 31 December 2024

879,658

198,863

87,134

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2025

68,268

476,118

2,080,038

Additions

6,077

66,500

96,485

Disposals

-

(16,250

)

(16,250

)

Reclassification/transfer

-

-

-

At 31 December 2025

74,345

526,368

2,160,273

DEPRECIATION

At 1 January 2025

42,122

213,366

625,485

Charge for year

7,467

71,463

138,927

Eliminated on disposal

-

(11,643

)

(11,643

)

Reclassification/transfer

-

-

-

At 31 December 2025

49,589

273,186

752,769

NET BOOK VALUE

At 31 December 2025

24,756

253,182

1,407,504

At 31 December 2024

26,146

262,752

1,454,553