REGISTERED NUMBER: 03534324 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

D J Swallow Construction Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

15

DIRECTORS:

Mr N G Hewerdine

Mrs S A Swallow

Mr D J Swallow

SECRETARY:

Mrs D A Swallow

REGISTERED OFFICE:

Unit 3, Halifax Court Fernwood Business

Cross Lane, Fernwood

Newark

Nottinghamshire

NG24 3JP

REGISTERED NUMBER:

03534324 (England and Wales)

AUDITORS:

Franklins Accountancy Audit & Tax Limited

18 St Christopher's Way

Pride Park

Derby

Derbyshire

DE24 8JY

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

The company's directors are pleased with the financial results for the year especially given the current uncertainty in the economic landscape due to the war in Ukraine, the general energy and cost of living crisis, as well as the recent change in UK government.

REVIEW OF BUSINESS

Turnover has increased by 35.24% to £28.879m, with the gross profit margin decreasing by 3.72% to 12.94%.

Administration expenses have decreased by £62.81k between 2024 and 2025.

Overall, the company's profit before tax has increased from £1.701m in 2024 to £1.959m in 2025.

At the end of the year the company had net assets of £3.845m (2024: £3.134m).

The company has considerable financial resources and contracts with a number of customers across different geographic areas. Accordingly, we believe that the company is well placed to manage its business risks successfully and look forward to continued growth into 2026 and beyond.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors ability to identify and manage risk is an important element of our continued success. The directors have identified the following key business risks that could have a material impact on future performance of the company and the controls in place to manage this risk:

Market & Contract Risk

To remain competitive in the market we continually focus on completing our contractual obligations to quality, time and budget with the company being involved in large scale construction contracts. Poor communication or performance can lead to contract delays and cost overruns. We seek to minimise this risk by maintaining close dialogue with all parties and by regular review of all contracts in progress by our in house professional management team.

Credit Risk

Credit risk arises on both our trade debtors and creditors. The credit worthiness is regularly reviewed and actions taken to mitigate our financial exposure.

Health & Safety Risk

The directors fully recognise that a breach in Health & Safety compliance could pose a risk to the going concern of the company and that the company's activities are inherently complex and potentially hazardous. The result of a breach could result in injury to employees, subcontractors, or members of the public or damage to the environment. This in turn could expose the company to significant potential liability, reputational damage and loss of key accreditation. Detailed policies and procedures exist to minimise such risks and are subject to regular review by the company's directors and the company's HSE Officer.

ON BEHALF OF THE BOARD:

Mr D J Swallow - Director

21 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 groundwork services.

DIVIDENDS

Interim dividends per share were paid during the year as follows:

Ordinary £1

-

£6050

Non voting shares £1

-

£19940

The total distribution of dividends for the year ended 31 March 2025 will be £ 804,400 .

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 N G Hewerdine

Mrs S A Swallow

Mr D J Swallow

POLITICAL DONATIONS AND EXPENDITURE

During the year, the company made charitable donations totalling £3,749 (2024: £860).

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

Mr D J Swallow - Director

21 November 2025

Opinion

We have audited the financial statements of D J Swallow Construction Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of 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 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 three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue 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:

- 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 the construction industry.

- 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 Health and Safety Executive (HSE), the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation.

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

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 accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

Where we identified legislation or regulation of particular relevance to the entity, in conjunction with other audit testing, we considered the sufficiency and appropriateness of audit evidence obtained regarding the compliance with that legislation, or regulation, and any consequential risk of material misstatements in the financial statements.

However it must be noted that 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.

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

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

James Richardson (Senior Statutory Auditor)

for and on behalf of Franklins Accountancy Audit & Tax Limited

18 St Christopher's Way

Pride Park

Derby

Derbyshire

DE24 8JY

21 November 2025

TURNOVER

3

28,879,397

21,354,972

Cost of sales

25,141,385

17,796,935

GROSS PROFIT

3,738,012

3,558,037

Administrative expenses

1,826,376

1,888,623

1,911,636

1,669,414

Other operating income

51,245

19,260

OPERATING PROFIT

6

1,962,881

1,688,674

Interest receivable and similar income

18,439

17,576

1,981,320

1,706,250

Interest payable and similar expenses

7

21,898

4,390

PROFIT BEFORE TAXATION

1,959,422

1,701,860

Tax on profit

8

444,323

426,274

PROFIT FOR THE FINANCIAL YEAR

1,515,099

1,275,586

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,515,099

1,275,586

FIXED ASSETS

Tangible assets

10

111,092

80,109

CURRENT ASSETS

Stocks and work in progress

11

2,587,761

4,265,281

Debtors

12

3,861,943

2,481,114

Cash at bank

337,656

3,610

6,787,360

6,750,005

CREDITORS

Amounts falling due within one year

13

3,018,493

3,568,780

NET CURRENT ASSETS

3,768,867

3,181,225

TOTAL ASSETS LESS CURRENT LIABILITIES

3,879,959

3,261,334

CREDITORS

Amounts falling due after more than one year

14

(8,333

)

(108,333

)

PROVISIONS FOR LIABILITIES

17

(26,561

)

(18,635

)

NET ASSETS

3,845,065

3,134,366

CAPITAL AND RESERVES

Called up share capital

18

110

110

Retained earnings

19

3,844,955

3,134,256

SHAREHOLDERS' FUNDS

3,845,065

3,134,366

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by:

Mr D J Swallow - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

110

2,188,070

2,188,180

Changes in equity

Dividends

-

(329,400

)

(329,400

)

Total comprehensive income

-

1,275,586

1,275,586

Balance at 31 March 2024

110

3,134,256

3,134,366

Changes in equity

Dividends

-

(804,400

)

(804,400

)

Total comprehensive income

-

1,515,099

1,515,099

Balance at 31 March 2025

110

3,844,955

3,845,065

Cash flows from operating activities

Cash generated from operations

1

1,679,596

390,394

Interest paid

(21,898

)

(4,390

)

Tax paid

(395,135

)

(584,277

)

Net cash from operating activities

1,262,563

(198,273

)

Cash flows from investing activities

Purchase of tangible fixed assets

(57,690

)

(75,504

)

Interest received

18,439

17,576

Net cash from investing activities

(39,251

)

(57,928

)

Cash flows from financing activities

Loan repayments in year

(100,000

)

(100,000

)

Amount withdrawn by directors

(68

)

(33

)

Government grants

51,245

19,260

Equity dividends paid

(804,400

)

(329,400

)

Net cash from financing activities

(853,223

)

(410,173

)

Increase/(decrease) in cash and cash equivalents

370,089

(666,374

)

Cash and cash equivalents at beginning of year

2

(32,433

)

633,941

Cash and cash equivalents at end of year

2

337,656

(32,433

)

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

2025

2024

£

£

Profit before taxation

1,959,422

1,701,860

Depreciation charges

26,707

19,495

Government grants

(51,245

)

(19,260

)

Finance costs

21,898

4,390

Finance income

(18,439

)

(17,576

)

1,938,343

1,688,909

Decrease/(increase) in stocks and work in progress

1,677,520

(1,097,871

)

Increase in trade and other debtors

(1,107,532

)

(1,198,730

)

(Decrease)/increase in trade and other creditors

(828,735

)

998,086

Cash generated from operations

1,679,596

390,394

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 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

337,656

3,610

Bank overdrafts

-

(36,043

)

337,656

(32,433

)

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

3,610

633,941

Bank overdrafts

(36,043

)

-

(32,433

)

633,941

3.	ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

3,610

334,046

337,656

Bank overdrafts

(36,043

)

36,043

-

(32,433

)

370,089

337,656

Debt

Debts falling due within 1 year

(100,000

)

-

(100,000

)

Debts falling due after 1 year

(108,333

)

100,000

(8,333

)

(208,333

)

100,000

(108,333

)

Total

(240,766

)

470,089

229,323

1.	STATUTORY INFORMATION

D J Swallow Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

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. These financial statements have been prepared under the historical cost convention as modified by the use of fair values for certain financial instruments in accordance with the accounting policies set out below.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover

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

Revenue is recognised when performance obligations are satisfied which occurs when the control of either goods or services are transferred to the customer.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Construction contracts / work in progress

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Hire purchase and leasing commitments

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

Going concern

As at 31st March 2025 the company had shareholders' funds of £3,845,065 (2024: £3,134,366). The company has made a profit for the year of £1,515,099 after tax (2024: £1,275,586). Post year end the company has continued to secure a number of further key contracts within the public and private sector.

The directors have therefore considered the appropriateness of preparing the accounts on a going concern basis and have monitored performance post year end, with the company continuing to trade at a comparable level and meet all liability payments as they have fallen due. The directors do not envisage any adverse issues in respect of the future performance of the entity and have therefore prepared the financial statements on a going concern basis.

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, and loans from and to related parties.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due for goods sold or services rendered in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor.

Trade creditors

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 recognised at the transaction price.

Trade creditors are classified as current liabilities of the company. The company does not have an unconditional right, at the end of the reporting date, to defer settlement of the creditor for at least twelve months after the reporting date, they are presented as non-current liabilities.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimations 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 are 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 a future periods where the revision affects both current and future periods.

Critical Judgements

The following judgements have had the most significant effect on amounts recognised in the financial statements:

Recognition of profit on long term contracts

Profit recognition is the area requiring the greatest use of judgement and is based on an assessment of the overall profitability forecast on individual contracts. Losses are recognised as soon as they are foreseen. Profits are recognised by the directors when the outcome of the contract can be assessed with reasonable certainty. The profit recognised reflects that part of the total profit currently estimated to arise over the duration of the contract that fairly represents the profit attributable to work performed at the accounting date. Contract reviews are undertaken on a monthly basis by senior staff and the company's in house surveying team.

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

£

£

Construction

28,879,397

21,354,972

28,879,397

21,354,972

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

28,879,397

21,354,972

28,879,397

21,354,972

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

2,859,903

2,806,099

Social security costs

1,449

1,449

Other pension costs

66,547

197,319

2,927,899

3,004,867

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

2025

2024

Site based staff

51

53

Office based staff

15

10

66

63

5.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

37,800

37,800

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

Money purchase schemes

3

3

6.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Hire of plant and machinery

1,237,350

849,685

Depreciation - owned assets

26,707

19,495

Auditors' remuneration

22,240

18,750

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

21,898

4,390

8.

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

436,397

412,057

Deferred tax

7,926

14,217

Tax on profit

444,323

426,274

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

1,959,422

1,701,860

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

489,856

425,465

Effects of:

Expenses not deductible for tax purposes

755

5,670

Capital allowances in excess of depreciation

(7,926

)

(14,217

)

Utilisation of tax losses

(15,990

)

(4,861

)

Adjustments to tax charge in respect of previous periods

(30,298

)

-

Deferred taxation

7,926

14,217

Total tax charge

444,323

426,274