REGISTERED NUMBER: 02592487 (England and Wales)

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

P R MARRIOTT DRILLING LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

6

Report of the Independent Auditors

9

Consolidated Income Statement

12

Consolidated Other Comprehensive Income

13

Consolidated Balance Sheet

14

Company Balance Sheet

15

Consolidated Statement of Changes in Equity

16

Company Statement of Changes in Equity

17

Consolidated Cash Flow Statement

18

Notes to the Consolidated Cash Flow Statement

19

Notes to the Consolidated Financial Statements

21

DIRECTORS:

J W Hobday

M K Dillon

D I Jones

D L Magor

R P Marriott

SECRETARY:

REGISTERED OFFICE:

Springwater House

Pilsley Road

Danesmoor

Chesterfield

Derbyshire

S45 9BQ

REGISTERED NUMBER:

02592487 (England and Wales)

AUDITORS:

Hollis and Co Limited

Chartered Accountants

Statutory Auditor

35 Wilkinson Street

Sheffield

South Yorkshire

S10 2GB

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

Following a period of heightened activity in 2023, the current year marked a transition back to more typical levels of project utilization, with major undertakings in both Bolivia and Ethiopia reaching their conclusions.

The UK market, however, experienced notable growth, as contracts within the water and mining sectors surpassed previous benchmarks. This momentum also saw the company increasingly assume the role of Principal Contractor, demonstrating its expanding expertise and leadership within the industry.

Throughout 2024, the company maintained its operations under a long-term contract in Mozambique. The robust relationships forged with prominent clients, coupled with the recurring nature of these agreements, provide strong reassurance in the company’s capacity to sustain ongoing profitability. Moreover, Marriott Drilling continues to be invited to tender for a diverse array of projects across both established and emerging markets, underscoring its solid reputation and adaptability.

Marriott Drilling’s enduring commitment to teamwork and proactive client engagement ensures that customer needs are consistently met, while the company remains competitive on pricing and commercially pragmatic. Rigorous routine maintenance regimes have kept drill rig and equipment downtime to an absolute minimum, and the company actively collaborates with clients to identify innovative ways to optimize project costs.

The year also brought change at the leadership level. With sincere appreciation, the company bid farewell to Mr. John Beswick, who stepped down from the board to embrace a well-deserved retirement, though he continues to offer his expertise in an advisory capacity. At the same time, the appointment of Richard Marriott as Technical Director and his addition to the board was met with enthusiasm, reflecting the company’s ongoing commitment to strong governance and technical excellence.

PRINCIPAL RISKS AND UNCERTAINTIES

The Group operates in a complex, dynamic environment where several key risks must be actively managed.

Exchange rate volatility remains an ongoing consideration due to the long-term nature of our contracts.

However, our exposure is mitigated through two primary strategies: a significant natural hedge, created by making purchases in overseas currencies, and the prudent use of exchange rate hedging instruments. Together, these measures help to minimize the impact of currency fluctuations on the business.

While short-term prospects remain relatively insulated, fluctuations in oil prices pose a potential long-term risk. In anticipation of this, the Company is strategically expanding into geothermal and other non-oil and gas markets, thereby diversifying our operations and reducing dependence on traditional energy sectors.

Political uncertainty is an ever-present factor both within the UK and in the various international markets where we operate. The Company remains vigilant, continuously assessing and adapting to the effects of regulatory and geopolitical developments to safeguard our interests.

Employee safety and security are paramount. Where circumstances demand, we engage specialized third-party services to ensure robust protection for our workforce, addressing both health and security concerns across all operational territories.

Lastly, while default or non-payment by a major customer is an inherent risk in our industry, our focus on working with blue chip and sovereign clients significantly mitigates this threat. Although such partnerships cannot eliminate the risk entirely, they provide a strong degree of reassurance regarding the reliability of our revenue streams.

SECTION 172(1) STATEMENT

The Companies (Miscellaneous Reporting) Regulations 2018 applies to financial years beginning on or after 1 January 2019 and these regulations require the Directors to explain how they considered the interests of key stakeholders and the broader matters set out in section 172(1) (A) to (F) of the Companies Act 2006 when performing their duty to promote the success of the Company under S 172.

This statement focuses on matters of strategic importance to PR Marriott Limited and the level of information disclosed is consistent with the size and the complexity of the business.

S172(1)(A) - THE LIKELY CONSEQUENCES OF ANY DECISION IN THE LONG TERM

The Directors understand the business and the evolving environment in which we operate, including the conflict in Ukraine, Brexit, high inflation and the rising cost of living.

All decisions in the business continue to be made for the long term in order to serve the growth, sustainability and value of the business.

A growing population and increasing customer focus on locality, sustainability and efficiency give the Director's confidence that there will continue to be growing world marketplaces for PR Marriott.

S172(1)(B) - THE INTERESTS OF THE COMPANY'S EMPLOYEES

Regular meetings are held with employees to keep them informed of matters of concern to them and the directors continually review the means whereby information may be provided to employees. The personal development of Employees is actively supported through the company.

S172(1)(C) - THE NEED TO FOSTER THE COMPANY'S BUSINESS RELATIONSHIPS WITH SUPPLIERS, CUSTOMERS AND OTHERS

PR Marriott Drilling Limited is a long-term business focused on innovation, quality and service. The business seeks to establish the same relationship with suppliers, wherever possible establishing local, long-term and single source relationships.

The company continues to invest in both new assets to the group along with the development and strengthening of the management team.

The company has long standing ties with the local communities in which they operate, all subsidiary businesses have excellent relationships with local businesses, government bodies and many others for which the business and employees are very grateful. The business also continues to support local charities both in the UK and Overseas.

S172(1)(D) - THE IMPACT OF THE COMPANY’S OPERATIONS ON THE COMMUNITY AND THE ENVIRONMENT

The company supports promotes and practises positive measures to develop best practise cost effective control solutions to increase the efficiency of and reduce the impact from its environmental activities especially with regard to consumption disposal and emissions. The company complies with all relevant legislation and cooperates with the governments maritime organisations Trade and Industry association customers subcontractors and suppliers in order to maintain high standards of environmental protection.

S172(1)(E) - THE DESIRABILITY OF THE COMPANY MAINTAINING A REPUTATION FOR HIGH STANDARDS OF BUSINESS CONDUCT

As the UK market leader PR Marriott Drilling Ltd continues to invest in achieving all leading manufacturing and marketplace accreditations.

The business was proud to have been awarded our first Queens Award for Enterprise in 2022.

S172(1)(F) - THE NEED TO ACT FAIRLY AS BETWEEN MEMBERS OF THE COMPANY

As a well-established company all decisions made by the Directors are intended to serve the long-term strategy of the business.

KEY PERFORMANCE INDICATORS

There are a number of key performance indicators ("KPI") that the management team use to monitor the performance of the business. These are as follows:

12 Months ended 31 December 2024

12 Months ended 31December 2023

Turnover

£50.1m

£73.7m

EBITDA

£9.9m

£10.0m

Return on Capital Employed

22.7%

24.0%

FUTURE PROSPECTS

In the UK our groundwater engineering division continues to diversify, we have a strong and stable team to manage the larger market share now held, an inroad has also been made into establishing the company within the mining market..

The P R Marriott Drilling continues to invest in the latest drilling technology to ensure the company has the technical capability providing a quality service. The company will also continue to maintain and extend our LRQA standard certification to further increase our business credentials as well as continuing to offer competitive pricing and innovative contracting solutions.

ECONOMIC IMPACT OF GLOBAL EVENTS

UK businesses are currently facing many uncertainties such as the continuing learning curve following Brexit, and Covid 19. Environmental sustainability and geopolitical events such as the Russian invasion of Ukraine and now the consequences of military activities in the Mediterranean Sea and the Horn of Africa affecting shipping, raise uncertainties which contribute to an environment where there exists a range of issues and risks, including inflation, rising interest rates, labour shortages, disrupted supply chains and new ways of working.

The Directors have carried out an assessment of the potential impact of these uncertainties on the business, including the impact of mitigation measures, and have concluded that these are non-adjusting events with the greatest impact on the business expected to be from the economic ripple effect on the global economy. The Directors have taken account of these potential impacts in their going concern assessment.

P R Marriott Drilling Limited continues to work with its partners to minimise any impacts of these events and maximise the realisation of any opportunities they may provide to the business

GOING CONCERN

The accounts have been prepared on a going concern basis.

The business meets its day-to-day working capital requirements through cash generation. The results of our budget modelling confirm that the Group will be able to operate within its credit facility for at least 12 months from the date of this report.

We conduct ongoing detailed trading forecast models, updated monthly, based on existing contracts in hand, new opportunities, and up-to-date market intelligence. We model profit and loss, balance sheet along with a full cash flow model to ensure that both the expected working capital and capital expenditure commitments can be met or to guide if additional financing is required.

Even with a forecast reduction in our activities for 2025 and the corresponding effect on operating profits, it still indicates that the Group cash position is forecasted to be cash positive within the 12 months leading to December 2025. The Group has significant overhead costs in the UK, while other operations fluctuate fully based on their activity levels. This prudent level of contingency ensures not only the delivery of targets set but also that the business remains operable on a going-concerned basis.

A key risk for the business is debt exposure to individual overseas clients. These risks are mitigated wherever possible, and prudence has been exercised in our cash forecasting model.

Contracts across East Africa remain an important element of the company’s portfolio in Geothermal Power as well as Oil and Gas markets. Given the cyclical nature of our geothermal activities, this traditional work has not been forecasted to restart over the next 12 months. Additional markets and clients are being sought in the region.

The company has invested in modern and varied drilling equipment, which is expected to expand our market range.

As of the date of this report, the directors reasonably expect that the company has adequate resources to continue its operations for the foreseeable future. Consequently, they continue to adopt the going concern basis in preparing the financial statements.

ON BEHALF OF THE BOARD:

J W Hobday - Director

18 November 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of drilling and related services to the oil, gas, gas storage, shale gas, CBM, geothermal, mining and water supply industries.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

RESEARCH AND DEVELOPMENT

During the year, the group continued to reinvest in the research and development of new and innovative processes to gain a competitive advantage in new and existing markets.

DIRECTORS

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

J W Hobday

M K Dillon

D I Jones

D L Magor

Other changes in directors holding office are as follows:

A J Beswick - resigned 31 December 2024

R P Marriott was appointed as a director after 31 December 2024 but prior to the date of this report.

QUALIFYING THIRD PARTY INDEMNITY PROVISION

During the financial year and at the time the directors report is approved, a Qualifying Third Party Indemnity Provision for the benefit of the directors is in force.

OVERSEAS BRANCHES

The parent company has two branches which are located outside of the United Kingdom.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

Our strategy has been to develop key partnerships with our customers, suppliers and other key stakeholders. The priorities are organic growth, driven by cross-selling and upselling services to our existing customers, whilst developing new customers, channels and markets, with a differentiated service offering and efficient end to end processes, enabling the Group to be the supplier of first choice.

From our suppliers’ perspective, we want to be the customer of first choice, with efficient and well managed procure to pay processes that are frictionless with a low cost to serve model.

The Directors' statement of compliance with duty to promote the success of the Group within the strategic report summarises how the Directors have had regard for the Group's relationship with stakeholders.

STREAMLINED ENERGY AND CARBON REPORTING

The Group is required to report under the Streamlined Energy and Carbon Reporting (SECR) framework under the Companies Act 2006 (Strategic and Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018. The SECR reporting year is the same as the Group Financial year 1 January 2024 to 31 December 2024.

In accordance with the guidance the Group is required to report the UK energy usage and associated Greenhouse Gas (GHG) emissions that relate to:

· Activities for which PR Marriott Drilling Ltd Limited is responsible involving the combustion of gas, or consumption of fuel for the purposes of transport; and

· The purchase of electricity by the Group for its own use, including the purpose of transport.

Note that emissions outside the UK are outside the scope of the mandatory requirements and are not included in the information below.

2024Consump tion kWh

2024Emissions (TCO2e)

2023Emission s (TCO2e)

Change %

Electricity

110,593

21

45

-113%

Heating Fuels

102,455

26

47

-77%

Transport Fuels and Mileage

2,807,103

743

1,292

-74%

Gross Annual Total

3,020,151

791

1,383

-75%

Intensity Metric (£m Turnover)

41.9

33.3

21%

Total TCO2e/£m

18.9

41.5

-120%

Qualifying Green Tariffs

Scope 1

1,541,757

456

546

-20%

Scope 2 ( Location Based)

1,478,394

335

837

-150%

TOTAL

3,020,151

791

1,383

-75%

Table 1: Primary Statement for Financial year ending 31st December 2024 and the baseline year ended 31st December 2023.

Baseline year

This is the second year of GHG reporting and is aligned with the financial year 01/01/24 to 31/01/24.

The financial year 2023 will be set as the baseline year.

Targets

PR Marriott Drilling Ltd Limited has not developed any carbon targets for the current reporting period.

Intensity Measurement

The intensity metric chosen is total annual turnover (£m) as at the Financial Year ending 31st December 2024. This was chosen as the most suitable metric as the and turnover is closely linked with energy use and associated carbon emissions.

Carbon Offset

PR Marriott Drilling Ltd Limited has no qualifying carbon offsets during this financial period.

Energy Efficiency Narrative

Over the 12-month twelve-month reporting period, the organisation has undertaken the following principal actions which have had a direct impact on the energy efficiency of the organisation.

· Additional Solar panels were operated at the Head office

· Adjusted heating and lighting settings across the site to only activate during working hours, further reducing areas of superfluous consumption.

The methodology used to calculate the CO2e emissions is the Operational Control approach on reporting boundaries as well as utilising the carbon emissions methodology as defined by the World Resources Institute/N/0dd Business Council for Sustainable Development (WRI/WBCSD) Greenhouse Gas Protocol (GHG): A Corporate Accounting and Reporting Standard, Revised Edition. Emissions factor data source: BETS 2023 conversion factors https://www.gov.uk/government/publications/greenhouse-gas-reporting-conversion-factors-2023.

Reporting covers electricity, gas and transport fuel consumption within the UK as required by Environmental Reporting Guidelines for non-quoted companies as defined in The Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018.

Emissions in tonnes CO2e in line with the GHG Protocol Corporate Standard (2004) including revised Scope 2 guidance (2015) which discloses a market-based figure in addition to the location based figure. Scope 2 emissions have been calculated in accordance with GHG Protocol guidelines, in both location and market-based methodologies.

DISCLOSURE IN THE STRATEGIC REPORT

As required by Section 414C(11) Companies Act 2006, this statement confirms that certain items that are required to be disclosed in the directors report are set out in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Hollis and Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J W Hobday - Director

18 November 2025

Opinion

We have audited the financial statements of P R Marriott Drilling Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management, those charged with governance and the entity's in-house legal team around actual and potential litigation and claims;

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;

- Reviewing minutes of meetings of those charged with governance;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

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

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

Peter Hollis (Senior Statutory Auditor)

for and on behalf of Hollis and Co Limited

Chartered Accountants

Statutory Auditor

35 Wilkinson Street

Sheffield

South Yorkshire

S10 2GB

19 November 2025

TURNOVER

4

50,108,952

73,722,550

Cost of sales

28,905,841

54,451,333

GROSS PROFIT

21,203,111

19,271,217

Distribution costs

2,156,154

2,563,030

Administrative expenses

13,047,050

10,633,758

15,203,204

13,196,788

OPERATING PROFIT

6

5,999,907

6,074,429

Interest receivable and similar income

9,254

-

6,009,161

6,074,429

Interest payable and similar expenses

7

1,412,340

2,078,798

PROFIT BEFORE TAXATION

4,596,821

3,995,631

Tax on profit

8

2,719,263

2,894,819

PROFIT FOR THE FINANCIAL YEAR

1,877,558

1,100,812

Profit attributable to:

Owners of the parent

2,246,463

757,772

Non-controlling interests

(368,905

)

343,040

1,877,558

1,100,812

PROFIT FOR THE YEAR

1,877,558

1,100,812

OTHER COMPREHENSIVE INCOME

Currency translation differences on

foreign currency net investments

(23,079

)

(20,101

)

Deferred tax on revaluation reserve

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(23,079

)

(20,101

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,854,479

1,080,711

Total comprehensive income attributable to:

Owners of the parent

2,247,242

744,994

Non-controlling interests

(392,763

)

335,717

1,854,479

1,080,711

FIXED ASSETS

Intangible assets

10

-

109,964

Tangible assets

11

34,826,267

38,710,596

Investments

12

-

-

34,826,267

38,820,560

CURRENT ASSETS

Stocks

13

308,700

280,565

Debtors

14

10,818,257

18,307,746

Cash at bank and in hand

9,233,021

12,726,575

20,359,978

31,314,886

CREDITORS

Amounts falling due within one year

15

11,446,715

28,357,483

NET CURRENT ASSETS

8,913,263

2,957,403

TOTAL ASSETS LESS CURRENT LIABILITIES

43,739,530

41,777,963

CREDITORS

Amounts falling due after more than one year

16

(17,096,423

)

(19,309,413

)

PROVISIONS FOR LIABILITIES

20

(2,855,265

)

(511,329

)

NET ASSETS

23,787,842

21,957,221

CAPITAL AND RESERVES

Called up share capital

21

73,002

73,002

Capital redemption reserve

22

73,000

73,000

Other reserves

22

1,025,350

1,048,429

Retained earnings

22

20,635,173

18,388,710

SHAREHOLDERS' FUNDS

21,806,525

19,583,141

NON-CONTROLLING INTERESTS

23

1,981,317

2,374,080

TOTAL EQUITY

23,787,842

21,957,221

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2025 and were signed on its behalf by:

J W Hobday - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

27,823,993

29,075,364

Investments

12

1,064

1,064

27,825,057

29,076,428

CURRENT ASSETS

Stocks

13

308,700

233,500

Debtors

14

10,881,088

15,378,311

Cash at bank and in hand

3,638,476

3,868,106

14,828,264

19,479,917

CREDITORS

Amounts falling due within one year

15

17,516,595

26,086,064

NET CURRENT LIABILITIES

(2,688,331

)

(6,606,147

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,136,726

22,470,281

CREDITORS

Amounts falling due after more than one year

16

(9,878,016

)

(12,185,907

)

PROVISIONS FOR LIABILITIES

20

(3,199,398

)

(1,488,476

)

NET ASSETS

12,059,312

8,795,898

CAPITAL AND RESERVES

Called up share capital

21

73,002

73,002

Capital redemption reserve

73,000

73,000

Other reserves

(180,425

)

(239,077

)

Retained earnings

12,093,735

8,888,973

SHAREHOLDERS' FUNDS

12,059,312

8,795,898

Company's profit/(loss) for the financial year

3,204,762

(3,138,482

)

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2025 and were signed on its behalf by:

J W Hobday - Director

Called up

Capital

share

Retained

redemption

capital

earnings

reserve

£

£

£

Balance at 1 January 2023

73,002

18,041,486

73,000

Changes in equity

Profit for the year

-

757,772

-

Other comprehensive income

-

-

-

Total comprehensive income

-

757,772

-

Reserve transfer

-

(410,548

)

-

Balance at 31 December 2023

73,002

18,388,710

73,000

Changes in equity

Profit for the year

-

2,246,463

-

Other comprehensive income

-

-

-

Total comprehensive income

-

2,246,463

-

Balance at 31 December 2024

73,002

20,635,173

73,000

Other

Non-controlling

Total

reserves

Total

interests

equity

£

£

£

£

Balance at 1 January 2023

1,287,128

19,474,616

1,401,894

20,876,510

Changes in equity

Profit for the year

-

757,772

343,040

1,100,812

Other comprehensive income

(12,778

)

(12,778

)

(7,323

)

(20,101

)

Total comprehensive income

(12,778

)

744,994

335,717

1,080,711

Reserve transfer

(225,921

)

(636,469

)

636,469

-

Balance at 31 December 2023

1,048,429

19,583,141

2,374,080

21,957,221

Changes in equity

Profit for the year

-

2,246,463

(368,905

)

1,877,558

Other comprehensive income

(23,079

)

(23,079

)

(23,858

)

(46,937

)

Total comprehensive income

(23,079

)

2,223,384

(392,763

)

1,830,621

Balance at 31 December 2024

1,025,350

21,806,525

1,981,317

23,787,842