REGISTERED NUMBER: 00243596 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2025

for

Illingworth Ingham (Manchester) Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Profit and Loss Account

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

Mr S J Graveley

Mr I K Rawling

Mr D Jarvis

SECRETARY:

Mr D Jarvis

REGISTERED OFFICE:

Trafford Park Saw Mills

Village Way

Manchester

M17 1AD

REGISTERED NUMBER:

00243596 (England and Wales)

AUDITORS:

Thompson Wright (Audit) Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

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

REVIEW OF BUSINESS

As with trading positions globally, we saw a fall in turnover and a tightening of margins due to continued materials and wage inflation.

Despite the economic headwinds, the business continues to invest in its main site at Trafford Park as well as its branch network and the directors are endeavouring to balance absorbing cost inflation versus passing it on to the end customer.

Management have maintained a strong control on the working capital of the business leaving the business will be well placed to grow into the future, as can be noted from the balance sheet on page 11.

The directors recommend that equity dividends be paid as detailed in note 7.

As in previous years, the directors monitor the performance of the company through monthly management accounts and sales reports for each division together with the monitoring of bank balances and ability to meet its further liabilities.

The directors consider the following to be key performance indicators;

2025

2024

Debtor days

52

49

Creditor days

48

55

Stock turnover days

99

98

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have identified the key risks faced by the company to be market risk, financial risk, credit risk and exchange rate risk.

The directors are constantly monitoring both the quality and price of the products it acquires and the range of goods it supplies, to minimise the market risk.

The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.

The company's policy throughout the year has been to maintain liquid funds at the bank and avoid incurring overdraft interest whilst also funding the repayment of finance lease obligations.

To achieve short term flexibility, the company operates an invoice discounting facility and hire purchase facilities, which means that it is exposed to interest rate risk.

Where the company has had to undertake short term borrowings, the company's exposure to interest rate fluctuations on its borrowings is managed by the use of fixed and floating facilities. It is the company's policy to minimise the amount of borrowings at floating rates of interest.

The maturity of borrowings is set out in note 19 to the financial statements.

The principal credit risk arises from its trade debtors.

In order to manage credit risk, the directors set limits for its customers based on a combination of payment history and third party credit references. Where available, credit insurance is also taken out. Credit limits are reviewed by the credit controller on a regular basis in conjunction with debt ageing and collection history.

During 2024/25, credit risk exposure was spread over a large number of customers.

The company imports goods from both Europe and North America with payment terms varying from between 45 and 60 days from bill of lading. The company is therefore exposed to exchange rate risk. To minimise this risk, the group enters into forward currency contracts, maturing at the relevant due date.

FUTURE DEVELOPMENTS

Looking to the future, the directors want to maintain appropriate investment levels in the company to ensure continued growth as well as maintaining and securing the company's position in the market. The directors closely monitor the market place to ensure that the company can deliver the best products at the best prices.

ON BEHALF OF THE BOARD:

Mr S J Graveley - Director

28 November 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of timber importing, merchanting and retailing.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £ 151,284 .

FUTURE DEVELOPMENTS

After the reporting period, the company committed to fixed asset purchases of £297,500.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

Mr S J Graveley

Mr I K Rawling

Mr D Jarvis

DISCLOSURE IN THE STRATEGIC REPORT

Future developments and principal risks and uncertainties are disclosed in the strategic report.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Thompson Wright (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr S J Graveley - Director

28 November 2025

Opinion

We have audited the financial statements of Illingworth Ingham (Manchester) Limited (the 'company') for the year ended 31 March 2025 which comprise the Profit and Loss Account, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of timber suppliers.

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment and health and safety legislation and FSC and PEFC compliance;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

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.

Jeremy Bostock BA (Hons) BFP FCA (Senior Statutory Auditor)

for and on behalf of Thompson Wright (Audit) Limited

Chartered Accountants

and Statutory Auditors

Ebenezer House

Ryecroft

Newcastle under Lyme

Staffordshire

ST5 2BE

28 November 2025

TURNOVER

3

22,955,611

23,002,909

Cost of sales

18,191,656

17,473,968

GROSS PROFIT

4,763,955

5,528,941

Distribution costs

455,376

363,991

Administrative expenses

3,934,523

3,856,030

4,389,899

4,220,021

374,056

1,308,920

Other operating income

4

30,155

37,592

OPERATING PROFIT

6

404,211

1,346,512

Interest receivable and similar income

92,285

146,358

496,496

1,492,870

Interest payable and similar expenses

8

7,434

47,565

PROFIT BEFORE TAXATION

489,062

1,445,305

Tax on profit

9

116,947

380,971

PROFIT FOR THE FINANCIAL YEAR

372,115

1,064,334

PROFIT FOR THE YEAR

372,115

1,064,334

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

372,115

1,064,334

FIXED ASSETS

Intangible assets

11

317,997

370,997

Tangible assets

12

1,408,891

1,640,338

Investments

13

1,202

417,620

1,728,090

2,428,955

CURRENT ASSETS

Stocks

14

4,938,778

4,699,608

Debtors

15

4,484,850

3,456,334

Cash at bank and in hand

3,690,502

4,980,820

13,114,130

13,136,762

CREDITORS

Amounts falling due within one year

16

3,245,275

4,029,452

NET CURRENT ASSETS

9,868,855

9,107,310

TOTAL ASSETS LESS CURRENT LIABILITIES

11,596,945

11,536,265

CREDITORS

Amounts falling due after more than one year

17

(63,791

)

(174,999

)

PROVISIONS FOR LIABILITIES

20

(256,593

)

(303,288

)

ACCRUALS AND DEFERRED INCOME

21

(33,414

)

(35,662

)

NET ASSETS

11,243,147

11,022,316

CAPITAL AND RESERVES

Called up share capital

22

26,416

26,416

Capital redemption reserve

23

6,321

6,321

Retained earnings

23

11,210,410

10,989,579

SHAREHOLDERS' FUNDS

11,243,147

11,022,316

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2025 and were signed on its behalf by:

Mr S J Graveley - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

26,416

11,140,237

6,321

11,172,974

Changes in equity

Dividends

-

(1,214,992

)

-

(1,214,992

)

Total comprehensive income

-

1,064,334

-

1,064,334

Balance at 31 March 2024

26,416

10,989,579

6,321

11,022,316

Changes in equity

Dividends

-

(151,284

)

-

(151,284

)

Total comprehensive income

-

372,115

-

372,115

Balance at 31 March 2025

26,416

11,210,410

6,321

11,243,147

1.	STATUTORY INFORMATION

Illingworth Ingham (Manchester) 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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved and therefore the financial statements have been prepared on a going concern basis.

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 areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed below.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirement of paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about Illingworth Ingham (Manchester) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Illingworth Ingham (Holdings) Limited, Trafford Park Saw Mills, Village Way, Manchester, M17 1AD.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied.

Turnover is attributable to the principle activity of the company which is carried out entirely within the United Kingdom.

Goodwill

Purchased goodwill arising on acquisition is the difference between the fair value of the purchase consideration and the fair value of the company's share of the identifiable assets and liabilities of the acquired business at the date of acquisition. Positive goodwill is capitalised and classified as an asset on the balance sheet and amortised over its estimated useful life of 5 to 10 years. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently when necessary if circumstances indicate that its carrying value may not be recoverable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Alterations to leasehold property

-

Equally over the term of the lease

Long leasehold

-

10 - 20% straight line

Plant,equipment, fixtures and fittings

-

10%, 25% and 33% per annum straight line

Motor vehicles

-

25% - 30% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, and 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 the future receipts discounted at a market rate of interest. Such assets are subsequently 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. 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.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and stocking loans, 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 within one year or less. If not, they are presented as creditors due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Foreign currencies

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

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

3.

TURNOVER

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

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

2025

2024

£

£

Manchester

12,807,720

13,069,246

Roger Haydock

1,144,696

765,182

Other depots

9,003,195

9,168,481

22,955,611

23,002,909

4.	OTHER OPERATING INCOME

2025

2024

£

£

Rents received

16,386

16,326

Government grants

2,247

2,247

Interest receivable from HMRC

11,522

19,019

30,155

37,592

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,800,561

3,523,262

Social security costs

368,917

399,352

Other pension costs

175,065

184,980

4,344,543

4,107,594

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

2025

2024

Production

104

94

Selling

10

10

Administration

7

7

121

111

2025

2024

£

£

Directors' remuneration

124,293

157,442

Directors' pension contributions to money purchase schemes

36,377

42,307

The number of directors receiving pension contributions into the scheme is 2 (2024:2).

6.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

3,129

2,541

Other operating leases

417,496

406,532

Depreciation - owned assets

325,083

259,775

Depreciation - assets on hire purchase contracts

96,390

174,348

Profit on disposal of fixed assets

(6,229

)

(69,324

)

Goodwill amortisation

53,000

53,000

Auditors' remuneration

26,602

24,150

Motor vehicle leases

-

132,259

7.	EXCEPTIONAL ITEMS

2025

2024

£

£

Exceptional items

510,007

-

The exceptional items relate to the impairment of the dormant subsidiaries and loan balances connected to them.

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Mortgage

-

36,827

Hire purchase

7,434

10,738

7,434

47,565

9.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

163,642

371,452

Overprovision in respect of previous years

-

(3

)

Total current tax

163,642

371,449

Deferred tax:

Accelerated capital allowances

(46,695

)

9,522

Tax on profit

116,947

380,971

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:

2025

2024

£

£

Profit before tax

489,062

1,445,305

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

122,266

361,326

Effects of:

Expenses not deductible for tax purposes

1,863

2,921

Income not taxable for tax purposes

(562

)

(562

)

Depreciation in excess of capital allowances

120,885

17,289

Adjustments to tax charge in respect of previous periods

-

(3

)

Intercompany balance write off

(127,505

)

-

Total tax charge

116,947

380,971

10.

DIVIDENDS

2025

2024

£

£

Ordinary "A" shares of 50p each

Interim

151,284

1,214,992

11.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

613,497

AMORTISATION

At 1 April 2024

242,500

Amortisation for year

53,000

At 31 March 2025

295,500

NET BOOK VALUE

At 31 March 2025

317,997

At 31 March 2024

370,997