REGISTERED NUMBER: 06715071 (England and Wales)

for

Page

Company Information  

1

Strategic Report  

2

Report of the Directors  

4

Report of the Independent Auditors  

6

Statement of Income and Retained Earnings  

10

Balance Sheet  

11

Notes to the Financial Statements

12

DIRECTORS:

N Jansen

C Platt

Mrs J Smith

REGISTERED OFFICE:

Wrens Court 46 South Parade

Sutton Coldfield

Birmingham

West Midlands

B72 1QY

REGISTERED NUMBER:

06715071 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Maple House

Level 5A

149 Tottenham Court Road

London

W1T 7NF

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

PRINCIPAL ACTIVITY AND REVIEW OF BUSINESS

The principal activity of the company is the marketing and sale of by-products from power stations.

The key financial and other performance indicators used during the year were as follows:

2025

2024

Change (%

)

Turnover

15,588,680

13,430,947

16.1

Gross Profit

1,949,548

2,114,567

(7.8

)

Operating Profit/(Loss)

(193,303

)

250,647

(174.8

)

Profit/(Loss) after tax

(263,332

)

203,442

(226.6

)

Equity shareholders funds

16,004,524

267,856

5,876.9

Current assets as a % of current liabilities ('quick ratio')

2.18

1.00

215.3

Average number of employees

14

12

16.7

PRINCIPAL RISKS AND UNCERTAINTIES

Reliance on key customers

Our customer portfolio remains unchanged from previous years.

Market conditions

The construction market has stagnated during the year with many segments under pressure. The Construction Market operates in a cycle and with our investment profile we are positioning ourselves for the market upturn in the coming years. Government incentive programmes for Construction would be welcomed.

Dependence on key personnel

We are constantly reviewing our teams as we bring new investments online and in line with market conditions. We have changed several key management roles in 2026 in readiness for our new investments. Overall staffing levels will increase as the company grows.

Health and safety

The business continues to maintain its ISO 9001, 14001, and 18001 certifications. Our in-house safety team is supported by external advisors.

Government energy policy

UK government energy policy has no direct impact on the business. We continue to sell from existing coal-fired power plant legacy stockpiles, with future projects also based around this material. A small volume of material is imported from Europe to support ongoing operations.

Financial risk management

Given the nature of the business, the company has limited exposure to financial risks. It is supported by the parent company, EPPM Power Minerals GmbH, as needed. The Directors have not disclosed the company's financial management objectives, policies, or its exposure to price, credit, and liquidity risk, as this information is not considered material to the financial position.

ON BEHALF OF THE BOARD:

C Platt - Director

28 September 2026

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

RESULTS AND DIVIDENDS

The loss for the year after taxation amounted to £257,587 (2024 - profit of £203,442). The directors recommend a final dividend of £Nil (2024 - £Nil).

FUTURE DEVELOPMENTS AND GOING CONCERN

Our owners EPH and their subsidiary EPPM Power Minerals are supportive of our future business strategy, and we have worked closely to ensure a positive future for the company. The investment strategy will give a long-term boost to the business, but in the short term the directors expect to see profits that reflect the need to incorporate short term project costs.

The directors have prepared the financial statements on a going concern basis. During the year the Company's immediate parent undertaking provided a capital contribution of £16,000,000, demonstrating its ongoing support for the business.

The contribution was made to strengthen the Company's financial position and support its future business activities and investment strategy. Following this contribution, the Company's net assets increased from £267,856 at 31 December 2024 to £16,010,269 at 31 December 2025, providing a strong capital base from which to pursue its strategic objectives.

Having reviewed forecasts, available cash resources and the continued support of the parent undertaking, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least twelve months from the date of approval of these financial statements.

DIRECTORS' QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

There were no qualifying third-party indemnity provisions in force for the benefit of one or more of the Directors at any time during the financial year (2024: Nil).

POLITICAL AND CHARITABLE CONTRIBUTIONS

The company made charitable donations during the year of £2,204 (2024 - £3,505). No political donations were made during the year (2024:Nil).

DISCLOSURE OF INFORMATION TO THE AUDITORS

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information, being information needed by the auditor in connection with preparing its report, of which the auditor is unaware. Having made enquiries of fellow directors and the company's auditor, each director has taken all the steps that he is obliged to take as a director in order to make himself aware of any relevant audit information and to establish that the auditor is aware of that information.

PRINCIPAL ACTIVITY

DIRECTORS

N Jansen , C Platt and Mrs J Smith were appointed as directors after 31 December 2025 but prior to the date of this report.

I J Skidmore and N P Waldron ceased to be directors after 31 December 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

AUDITORS

The auditors,  Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

C Platt - Director

28 September 2026

Opinion

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the 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 course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-

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

-

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

Matters on which we are required to report by exception

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

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

-

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

-

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

-

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

-

we have not received all the information and explanations we require for our audit; or

-

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

Through discussion with management and those charged with governance we gained an understanding of the legal and regulatory framework applicable to the entity and the industry in which it operates, and considered the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. During the engagement team briefing we communicated the identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, financial reporting legislation, the Companies Act 2006 and tax legislations. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We evaluated management's incentives and opportunities for fraudulent manipulations of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates.

Audit procedures undertaken in response to the potential risk relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of:

- enquiries of management and those charged with governance as to whether the entity complies with such laws and regulations;

- enquiries with the same concerning any actual or potential litigation claims;

- reviewed risk of management override;

- review of journal entries posted with unusual account combinations or posted by senior management; .

- reviewing accounting estimates for bias;

- performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud;

- agreeing financial statement disclosures to underlying supporting documentation.

The likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Stothard BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Maple House

Level 5A

149 Tottenham Court Road

London

W1T 7NF

28 September 2026

TURNOVER

15,588,680

13,430,947

Cost of sales

13,639,132

11,316,380

GROSS PROFIT

1,949,548

2,114,567

Administrative expenses

2,142,851

1,863,920

OPERATING (LOSS)/PROFIT

4

(193,303

)

250,647

Interest receivable and similar income

5

14,488

8,983

(178,815

)

259,630

Interest payable and similar expenses

6

84,517

56,188

(LOSS)/PROFIT BEFORE TAXATION

(263,332

)

203,442

Tax on (loss)/profit

7

-

-

(LOSS)/PROFIT FOR THE FINANCIAL

YEAR

(263,332

)

203,442

Retained earnings at beginning of year

266,255

62,813

RETAINED EARNINGS AT END OF

YEAR

2,923

266,255

FIXED ASSETS

Intangible assets

8

6,898

10,498

Tangible assets

9

9,244,005

248,432

9,250,903

258,930

CURRENT ASSETS

Stocks

10

810,194

580,800

Debtors

11

2,150,412

2,896,515

Cash at bank and in hand

8,844,640

1,411,122

11,805,246

4,888,437

CREDITORS

Amounts falling due within one year

12

5,051,625

4,879,511

NET CURRENT ASSETS

6,753,621

8,926

TOTAL ASSETS LESS CURRENT

LIABILITIES

16,004,524

267,856

CAPITAL AND RESERVES

Called up share capital

13

1,601

1,601

Capital contribution reserve

14

16,000,000

-

Retained earnings

14

2,923

266,255

SHAREHOLDERS' FUNDS

16,004,524

267,856

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2026 and were signed on its behalf by:

C Platt - Director

1.

STATUTORY INFORMATION

Power Minerals 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

Statement of compliance

Power Minerals Limited is a limited liability company incorporated in England. The registered office is Wrens Court 46 South Parade, Sutton Coldfield, Birmingham, West Midlands B72 1QY.

The financial statements have been prepared in accordance with FRS 102 as it applies to financial statements of the company for the year ended 31 December 2025.

Basis of preparation

The financial statements are prepared under the historical cost convention and in accordance with applicable accounting standards. The financial statements are prepared in sterling which is the functional currency of the company rounded to the nearest £ sterling.

Group financial statements

The Company is a wholly owned subsidiary of its immediate parent undertaking, EP Power Minerals GmbH, and is included in the group financial statements of its parent EPPE - EP Power Europe, a.s. Consequently, the Company has taken advantage of the following disclosure exemptions under FRS 102;

- The requirements of section 7 Statement of Cash Flows and section 3 Financial Statement Presentation paragraph 3.17(d).

- The requirements of section 11 Basic Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e), 11.48(a)(iii), 11.48(b) and 11.48(c)

- Section 33 Related Party Disclosures paragraph 33.7.

Judgements and key sources of estimation

The preparation of the financial statements requires management to make judgements, estimates and assumptions that effect the amounts reported for assets and liabilities as at the balances sheet date and the amounts reported for revenues and expenses during the year. However, the nature of the estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have has the most significant effect on the amounts recognised in the financial statements.

Development expenditure

Development expenditure is capitalised in accordance with the accounting policy given below. Initial capitalisation of costs is based on management's judgement that technical and economic feasibility is confirmed, usually when a product development project has reached a defined milestone according to an established project management model. In determining the amounts to be capitalised management makes assumptions regarding the expected future cash generation of the assets, discounts rates to be applied and the expected period of benefit.

Tax strategy

Power Minerals ("PM") is at the centre of an international and UK-wide network that expertly guides quality ash supplies to major projects across the construction, housing, and infrastructure sectors. The group was headed by Power Minerals UK Holdings Limited ("PML") until the latter was dissolved on 10 September 2022, after which Power Minerals Limited ("PML") became the new head of the UK sub-group.

This strategy outlines the UK tax strategy of PML and its subsidiaries, including the approach to tax risk management and governance, the attitude towards tax planning, the level of tax risk accepted and a description of the company's relationship with HMRC, in respect of the year ending 31 December 2025.

This strategy is published in accordance with paragraphs 16 and 19 of Schedule 19 to the Finance Act 2016. A list of the entities to which it applies is set out below. In this strategy, references to 'PM' or 'the group' are to all these entities.

This strategy applies from the date of publication until it is superseded. References to 'UK Taxation' are to the taxes and duties set out in paragraph 15(1) of the Schedule which include Income Tax, Corporation Tax, PAYE, NIC, VAT, Insurance Premium Tax, and Stamp Duty Land Tax. References to 'tax', 'taxes' or 'taxation' are to UK taxation and to all corresponding worldwide taxes and similar duties in respect of which the Group has legal responsibilities.

Aim

The group is committed to full compliance with all statutory obligations and full disclosure to relevant tax authorities. The group's tax affairs are managed in a way which considers the group's wider corporate reputation in line with PM's overall high standards of governance.

Governance in relation to UK taxation

- The Board of PML are ultimately accountable to the Board of Energetický a prumyslový holding ("EPH"). PML report directly to EP Power Minerals GmbH ("EPPM") who, in turn, report to EPH (the ultimate owner of PML).

- EPH expects PM to conduct its tax affairs in a manner which is consistent with the polices contained herein and in accordance with PML's immediate parent company EPPM's Tax Governance Policy, the purpose of which is to ensure compliance with all applicable tax laws and regulations for significant transactions and business decisions.

- EPH expects PM to proactively consider EPH's environmental impact, social welfare, and sustainable governance practices (ESG), in particular the ESG master paper, to ensure tax policies and decisions are aligned with the group's sustainability objectives.

- Ultimate responsibility for PM's tax strategy and compliance rests with the Board of PML.

- Executive management of PML is delegated by the Board to Nigel Waldron, Managing Director.

- The CEO is the Board member with executive responsibility for tax matters.

- Day-to-day management of PML's tax affairs is delegated to appropriately trained employees.

- The Board ensures that PM's tax strategy is one of the factors considered in all investments and significant business decisions taken.

Risk Management

- PM operates a system of tax risk assessment and controls as a component of the overall internal control framework applicable to the group's financial reporting system.

- PM seeks to reduce the level of tax risk arising from its operations as far as is reasonably practicable by ensuring that reasonable care is applied in relation to all processes which could materially affect its compliance with its tax obligations.

- Processes relating to different taxes are allocated to appropriate process owners, who carry out a review of activities and processes to identify key risks and mitigating controls in place.  These key

risks are monitored for business and legislative changes which may impact them and changes to processes or controls are made when required.

- Appropriate training is carried out for staff who manage, or process matters which have tax implications.

- Advice is sought from external advisers where appropriate.

Attitude towards tax planning and level of risk

PM manages risks to ensure compliance with legal requirements in a manner which ensures payment of the right amount of tax at the right time and filing complete and accurate returns on a timely basis.

When entering into commercial transactions, PM seeks to take advantage of available tax incentives, reliefs, and exemptions in line with, and in the spirit of, tax legislation. Any tax planning undertaken will have commercial and economic substance and will have regard to the potential impact on our reputation and broader goals. PM does not undertake tax planning unrelated to such commercial transactions.

The level of risk which PM accepts in relation to UK taxation is consistent with its overall objective of achieving certainty in the group's tax affairs. At all times PM seeks to comply fully with its regulatory and other obligations and to act in a way which upholds its reputation as a responsible corporate citizen. In relation to any specific issue or transaction, the Board is ultimately responsible for identifying the risks, including tax risks, which need to be addressed and for determining what actions should be taken to manage those risks, having regard to the materiality of the amounts and obligations in question.

The group does not take an unreasonable stance on interpretation of tax legislation and strives to work within both the letter and spirit of local laws.

Working with HMRC

The group complies with all applicable tax laws and regulations, maintaining an open and honest dialogue in all dealings with HMRC. In the event of a disagreement with HMRC, PM aims to resolve disputes in a timely manner through the provision of full and accurate answers to queries, open and honest dialogue, and the willingness wherever possible to reach an agreement without recourse to litigation.

If faced with any uncertainty as to the application of certain tax laws, a proactive approach of engaging with HMRC in advance of undertaking any transactions may be adopted to confirm the correct application of tax law.

Any inadvertent errors in submissions made to HMRC are fully disclosed as soon as reasonably practicable after they are identified.

List of entities covered by this Tax Strategy

Power Minerals UK Holdings Limited (until its dissolution on 10 September 2022)

Power Minerals Limited

Biolite Technologies Limited (dormant until dissolution on 12 September 2023)

Orbolite Limited (dormant until dissolution on 12 September 2023)

This tax strategy is owned and approved by the Board of Directors of PML.

Intangible fixed assets

Intangible assets acquired separately from a business are capitalised at cost.

Intangible assets, excluding development costs, created within the business are not capitalised and expenditure is charged against profits in the year in which it is incurred.

Subsequent to initial recognition, intangible assets are stated at cost less accumulated amortisation and accumulated impairment.

Intangible assets are amortised on a straight-line basis over their estimated useful lives once brought in to use in the business. The carrying value of intangible assets is reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.

The useful economic lives of intangible assets are as follows:

Patent - 20 years

REACH Registration - 5 Years

Tangible fixed assets

Tangible fixed assets are stated at historical purchase cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for intended use.

Depreciation is provided by the Company to write off the cost less the estimated residual value of tangible fixed assets by equal instalments over their estimated useful economic lives as follows:

Furniture and equipment - 20%-50% per annum

Plant and machinery - 10%-33% per annum

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amounts being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow moving items.

Cost is calculated on and average cost basis and includes an appropriate proportion of attributable overheads.

Deferred taxation

Deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or right to pay less or to receive more, tax, with the following exceptions:

- Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, or gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.

- Provision is made for deferred taxation that would arise on remittance of the retained earnings of subsidiaries, associates and joint ventures only to the extent that, at the balance sheet date, dividends have been accrued as receivable.

- Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Foreign currencies

Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains or losses on translation are included in the income statement.

Pensions

The company operates a defined contribution group personal pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The amount charged against profits represents the contributions payable to the scheme in respect of the accounting period.

Financial assets and liabilities

Financial assets and liabilities are initially recognised at cost and only derecognised once payment has been received/made in respect of the instruments.

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to third party customers. Revenue is recognised when the risks and reward of ownership pass to the buyer usually on dispatch of the goods.

Derivative instruments

The company uses forward foreign currency contracts to reduce exposure to foreign exchange rates.

Derivative financial instruments are initially measured at fair value on the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss. Derivatives are carried as assets when the fair value is positive and as liabilities when the fair value is negative.

The fair value of the forward currency contracts is calculated by reference to current forward exchange contracts with similar maturity profiles.

The company does not undertake any hedge accounting transactions.

3.

EMPLOYEES AND DIRECTORS

31.12.25

31.12.24

£   

£   

Wages and salaries

1,108,148

810,546

Social security costs

147,258

103,631

Other pension costs

138,836

140,114

1,394,242

1,054,291

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

31.12.25

31.12.24

Directors

2

2

Sales and admin

10

8

Production

2

2

14

12