The Lennox Partnership Ltd - Limited company accounts 25.1

REGISTERED NUMBER: SC111183 (Scotland)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2026

for

THE LENNOX PARTNERSHIP LTD

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

Mr B Deans

Mr W Derek Robertson

Mr S MacDonald

Mrs C MacNab

Mr M Nurbhai

Mrs F Delahoy Taylor

SECRETARY:

Mr W Derek Robertson

REGISTERED OFFICE:

Carus House

201 Dumbarton Road

Clydebank

Glasgow

G81 4XJ

REGISTERED NUMBER:

SC111183 (Scotland)

SENIOR STATUTORY AUDITOR:

Robert Pollock BA CA

AUDITORS:

Sharles Audit Limited

Statutory Auditors

29 Brandon Street

Hamilton

ML3 6DA

The directors present their strategic report for the year ended 31 March 2026.

REVIEW OF BUSINESS

The Lennox Partnership (TLP) is a Social Enterprise, incorporated as a Private Limited Company by Guarantee and having a Board of non-executive directors.

The Lennox Partnership's mission is to create a positive future for people through sustainable employment. Its aim is to improve people's lives and make a positive difference through the delivery of various specialist employability services.

It is pleasing to note that our geographical spread linked to the delivery of our services has increased in year with us now delivering in 8 of the 32 Local Authority (LA) areas of Scotland, namely Dunbartonshire (East and West) North Ayrshire, South Ayrshire, East Ayrshire, East Renfrewshire, Renfrewshire and Glasgow.

In addition to our LA funded No One Left Behind contracts our 3 Fair Start Scotland contracts continued to perform well throughout its final year of support for the participants who registered before April 2025.

A significant milestone in our organisation's history, reaching our 38th year of trading and it's been another exceptional year for our business during 2025/26; both in terms of financial performance; and our response to dealing with the ending of our large Fair Start Scotland contract which we've delivered for 8 years, and subsequently managing the transition to the Scottish Governments (SG) No One Left Behind contracts managed through the LA network in Scotland.

Performance in our 38th year of trading was very good, although overall numbers have reduced as a result of the ending of the national contracts. The number of participants supported was 1,038 (1,857 in 24/25) and Job Outcomes 490 (871) equating to a conversion rate of 47% (47%); across our whole portfolio of 15 contracts. This is a remarkable achievement considering we are working with participants who are furthest removed from the labour market in many cases, including those with a disability; or long-term health condition that we support in many of our contracts.

Throughout the year we have continued to develop our staff in line with the skills required for the effective delivery of our contracts, with numerous training programmes for staff at all levels within the organisation being delivered. This approach undoubtedly assists us with maintaining our IIP Platinum level recognition and ensuring a positive message to the external environment.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risk we are facing relates to the scale of the contracts being commissioned since the move away from national contracts to much smaller locally focussed contracts at the local authority level. An added risk with this approach is the duration of the contracts being commissioned, which are mostly for a 12-month period, resulting in a high degree of uncertainty relating to the sustainability of contracts and our ability to retain staff. With more National Government funding being devolved to Local Government, we are also experiencing more of the funding being retained by the LA's reducing the amount of funding being used to procure services. There are potential opportunities for our sector where the Scottish Government recognises the value of third sector delivery that contributes to the SG ambitions which has resulted in ring fenced funding for the sector.

BUSINESS PERFORMANCE

TLP had another surplus-making year, further strengthening the cash and reserves being held on the balance sheet, whilst extending our geographical reach by securing additional contracts in year. Any principal risks identified above will be greatly mitigated with the strong financial base TLP has established over the past four years.

FUTURE DEVELOPMENTS

Looking ahead for the organisation, we will continue to work towards the delivery of our strategic plan, which was developed with the Board and TLP Leadership group in February 2026 and gives us the basis of our 3-year plan to 2029, a key element being the development of a TLP training academy which has gone well over the year with a significant number of Qualifications Scotland (QS) qualifications being delivered, and approvals for additional Local Authority Training Frameworks achieved in Ayrshire and Lanarkshire. We will also continue to develop our expertise for supporting participants who have been impacted by the Justice System, supporting parents to address the Scottish Governments priority of reducing child poverty and for those who are suffering from a long-term health condition, and/or a disability, in recognition of the increased funding opportunities for those participant groups .Within the plan we have also committed to working with/assisting private sector businesses deliver social value/community benefits which will allow them to achieve the social value outputs they have committed to and in turn support the participants we are working with.

ON BEHALF OF THE BOARD:

Mr W Derek Robertson - Director

26 October 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

DIRECTORS

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

Mr B Deans

Mr W Derek Robertson

Mr S MacDonald

Mrs C MacNab

Mr M Nurbhai

Mrs F Delahoy Taylor

The company is limited by guarantee and the liability of each member in the event of a winding up is limited to £1.

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 surplus or deficit 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, Sharles Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr W Derek Robertson - Director

26 October 2026

Opinion

We have audited the financial statements of The Lennox Partnership Ltd (the 'company') for the year ended 31 March 2026 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 the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its surplus for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

- obtained an understanding of the nature of the industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework;

- inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;

- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, the Companies Act 2006 and tax compliance regulations. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing financial statement disclosures, inspecting correspondence with local tax authorities and evaluating advice received from external tax advisors.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to health and safety, employment law, GDPR, anti-money laundering and environmental regulations. We performed audit procedures to inquire of management and those charged with governance whether the company is in compliance with these law and regulations and reviewed any relevant legal correspondence and invoices for evidence of non compliance.

The audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to performing analytical procedures to identify unusual or unexpected relationships, testing manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, and challenging judgments and estimates applied in the year end adjustments to account for contract revenue and expenditure.

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.

Robert Pollock BA CA (Senior Statutory Auditor)

for and on behalf of Sharles Audit Limited

Statutory Auditors

29 Brandon Street

Hamilton

ML3 6DA

26 October 2026

TURNOVER

1,676,906

3,116,777

Administrative expenses

1,650,987

2,353,040

25,919

763,737

Other operating income

8,012

32,630

OPERATING SURPLUS

5

33,931

796,367

Income from shares in group undertakings

147,000

122,500

Interest receivable and similar income

267,626

287,497

414,626

409,997

SURPLUS BEFORE TAXATION

448,557

1,206,364

Tax on surplus

6

68,013

73,254

SURPLUS FOR THE FINANCIAL YEAR

380,544

1,133,110

SURPLUS FOR THE YEAR

380,544

1,133,110

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

380,544

1,133,110

FIXED ASSETS

Tangible assets

7

-

Investments

8

49

CURRENT ASSETS

Debtors

9

165,448

566,730

Cash at bank and in hand

9,068,845

8,689,323

9,234,293

9,256,053

CREDITORS

Amounts falling due within one year

10

516,515

918,819

NET CURRENT ASSETS

8,717,778

8,337,234

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,717,827

8,337,283

RESERVES

Income and expenditure account

12

8,717,827

8,337,283

8,717,827

8,337,283

The financial statements were approved by the Board of Directors and authorised for issue on 26 October 2026 and were signed on its behalf by:

Mr W Derek Robertson - Director

Retained

Total

earnings

equity

£

Balance at 1 April 2024

7,204,173

Changes in equity

Total comprehensive income

1,133,110

Balance at 31 March 2025

8,337,283

Changes in equity

Total comprehensive income

380,544

Balance at 31 March 2026

8,717,827

Cash flows from operating activities

Cash generated from operations

1

38,548

814,472

Tax paid

(73,652

)

(14,519

)

Net cash from operating activities

(35,104

)

799,953

Cash flows from investing activities

Interest received

267,626

287,497

Dividends received

147,000

122,500

Net cash from investing activities

414,626

409,997

Increase in cash and cash equivalents

379,522

1,209,950

Cash and cash equivalents at beginning of
year

2

8,689,323

7,479,373

Cash and cash equivalents at end of year

2

9,068,845

8,689,323

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

2026

2025

£

Surplus before taxation

448,557

1,206,364

Finance income

(414,626

)

(409,997

)

33,931

796,367

Decrease/(increase) in trade and other debtors

401,282

(40,910

)

(Decrease)/increase in trade and other creditors

(396,665

)

59,015

Cash generated from operations

38,548

814,472

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 March 2026

31.3.26

1.4.25

£

Cash and cash equivalents

9,068,845

8,689,323

Year ended 31 March 2025

31.3.25

1.4.24

£

Cash and cash equivalents

8,689,323

7,479,373

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.25

Cash flow

At 31.3.26

£

Net cash

Cash at bank and in hand

8,689,323

379,522

9,068,845

8,689,323

379,522

9,068,845

Total

8,689,323

379,522

9,068,845

1.	STATUTORY INFORMATION

The Lennox Partnership Ltd is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis.

Turnover

Turnover is derived from the provision of employment services on a contract basis.

Turnover therefore represents the sale of these goods and services, net of discounts and excluding value added tax, and is recognised at the point that these goods and services are supplied.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

50% on cost

At each balance sheet date, the company reviews the carrying amounts 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. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Investments in subsidiaries

Investments in associate undertakings are recognised at cost.

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

Significant judgements and estimates

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Basic financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Going concern

The directors, having considered a period of twelve months from the date of approval of the financial statements, have assessed the future viability of the company's operations. Given the significant cash reserves held and programme contracts on place have adopted the going concern basis in preparing the financial statements.

4.	EMPLOYEES AND DIRECTORS

2026

2025

£

Wages and salaries

1,335,894

1,916,157

Other pension costs

43,596

78,846

1,379,490

1,995,003

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

2026

2025

Directors, management and administration

40

61

2026

2025

£

Directors' remuneration

90,332

95,466

5.	OPERATING SURPLUS

The operating surplus is stated after charging:

2026

2025

£

Auditors' remuneration

6,250

6,278

6.

TAXATION

Analysis of the tax charge

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

2026

2025

£

Current tax:

UK corporation tax

67,614

73,254

Under/over provision in prior

years

399

-

Tax on surplus

68,013

73,254

UK corporation tax was charged at 25%) in 2025.

Reconciliation of total tax charge included in profit and loss

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

2026

2025

£

Surplus before tax

448,557

1,206,364

Surplus multiplied by the standard rate of corporation tax in the UK of
25% (2025 - 25%)

112,139

301,591

Effects of:

Income not taxable for tax purposes

(44,525

)

(228,337

)

Adjustments to tax charge in respect of previous periods

399

-

Total tax charge

68,013

73,254

7.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2025

and 31 March 2026

16,888

70,777

87,665

DEPRECIATION

At 1 April 2025

and 31 March 2026

16,888

70,777

87,665

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

8.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2025

and 31 March 2026

49

NET BOOK VALUE

At 31 March 2026

49

At 31 March 2025

49

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Start Scotland Limited

Registered office: Scotland

Nature of business: Provider of employability services

%

Class of shares:

holding

Ordinary

49.00

30.9.25

30.9.24

£

Aggregate capital and reserves

542,137

774,884

Profit for the year

67,253

284,612

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

29,896

496,784

Other debtors

34,226

-

Prepayments and accrued income

101,326

69,946

165,448

566,730

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

12,866

27,756

Tax

67,614

73,253

Social security and other taxes

66,341

184,319

Accruals and deferred income

369,694

633,491

516,515

918,819

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2026

2025

£

Within one year

51,941

30,941

Between one and five years

-

21,000

51,941

12.

RESERVES

Income

and

expenditure

account

£

At 1 April 2025

8,337,283

Surplus for the year

380,544

At 31 March 2026

8,717,827

13.	RELATED PARTY DISCLOSURES

During the year sales invoices totalling £182,772 (2025 - £776,645) were raised to Start Scotland Limited, an associated company in which The Lennox Partnership Limited holds 49% of the issued share capital.

At the year end £Nil (2025 - £213,402) was unpaid and included in trade debtors.