REGISTERED NUMBER: 05383149 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD

30 SEPTEMBER 2023 TO 31 DECEMBER 2024

FOR

DMA MAINTENANCE LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

S W Kingsman

A D Wood

G Danilewicz

S J McGregor

R P Tate

A Cook

C Callow

I F McGregor

K McGuane

R Ware

W F S Bennett

V Miller

SECRETARY:

G Danilewicz

REGISTERED OFFICE:

5 Beaufort House

Beaufort Court

Medway City Estate

Rochester

ME2 4FB

REGISTERED NUMBER:

05383149 (England and Wales)

AUDITORS:

RJP LLP

Chartered Certified Accountants &

Statutory Auditors

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

The directors present their strategic report for the period 30 September 2023 to 31 December 2024.

REVIEW OF BUSINESS

Company trading performance

The company has delivered £22,732,345 (2023 - £17,305,455) sales and a profit before tax of £816,292 (2023 - £45,274).

The balance sheet at year end has net assets of £4,190,049 (2023 - £3,373,757), net current assets of £3,181,736 (2023 - £2,452,027) and £2,032,737 (2023 - £5,030,418) in cash.

Company strategy

Our vision: Powered by our expertise and our technology, we will make buildings work better and change the UK maintenance industry, for good.

The Senior Leadership Team has a wealth of experience and is focused on growth through great people, repeatedly delivering great service, at scale, and achieving great results for our customers, our people and our business.

Growth will be achieved through scaling up our own technology-enabled ultra-efficient delivery model and sustainably delivering better customer service, driven by business process automation that's powered by live, transparent, end-to-end data, available to all stakeholders anywhere, anytime, on any device.

In addition, we will roll out our 'managed service' model that will enable our customers to procure our single, fully serviced maintenance management platform to simplify, aggregate and consolidate all their service needs and providers within one system.

Our fully integrated hard service FM scope comprises planned maintenance, 24/7 reactive emergency callouts and repairs, small works, larger projects and energy services that helps our customers reduce energy and cut carbon on their journey to net zero.

PRINCIPAL RISKS AND UNCERTAINTIES

The main risks, in no particular order, and associated mitigations are:

-

Availability of skills. Our industry faces an unprecedented skills gap. This is the culmination of a long-term lack of apprenticeships, falling numbers of young recruits, and an exodus of many skilled operatives through Brexit, all compounded by the Covid pandemic. This lack of skills means an intense demand for skilled labour. All of which has conspired to increase salary costs at a time when we had an energy and cost of living crisis and a fragile economy. To mitigate the risk of the skills gap, we continue to build the number of apprentices in our apprenticeship scheme and have created an in-house team to recruit and retain our talented people. We have a culture in DMA that fosters high levels of employee engagement.

-

Credit risk. We only trade with reputable building owners, occupiers, managers and agents. We ensure that our credit risk is covered by positive cashflow and/or the financial covenant offered by our customer.

-

Funding. We maintain tight control over working capital and focus daily on cash collection, invoicing and work in progress.

-

Competition. We are one of only a very few service providers to have a proprietary enterprise management system, which is called BiO®. Our technology has been recognised and celebrated in the industry press and the Sunday Times, earning DMA titles like 'disruptor' and 'change maker'. We continue to invest significant sums in our technology and the learning and development of our people.

-

Key person exposure (technology). Representative of the strategic importance of our technology development, we have Key Person Insurance in place for our Chief Technology Officer. We also continue to recruit into our technology team.

-

Reputational risk. Our sales governance process ensures we only tender for and deliver projects within our competencies. Service partners must be approved and onboarded on BiO® to work with us. Our 24/7 customer service team provide continuous support including for emergency call out and repairs. Our leadership is visible and accessible whenever customer issues arise.

-

Geopolitical and economic uncertainties. Global businesses face significant geopolitical and economic uncertainties driven by regional conflicts, shifting trade policies, economic sanctions, and supply chain disruptions, to name but a few. Tensions between major powers like the U.S. and China, the Russia-Ukraine conflict, and rising protectionism and tarriffs have heightened risks. Additionally, economic volatility, including inflation, fluctuating interest rates, and currency instability, adds to the challenges. As an SME our share of the FM market is small, so we are somewhat shielded from macro-economic factors. However, we continue to diversify our service offering, build organisational resilience and focus on our ESG performance to hedge against these risks.

ON BEHALF OF THE BOARD:

A D Wood - Director

5 November 2025

The directors present their report with the financial statements of the company for the period 30 September 2023 to 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of property services.

DIVIDENDS

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

DIRECTORS

The directors shown below have held office during the whole of the period from 30 September 2023 to the date of this report.

S W Kingsman

A D Wood

G Danilewicz

S J McGregor

R P Tate

A Cook

C Callow

I F McGregor

K McGuane

R Ware

W F S Bennett

V Miller

Other changes in directors holding office are as follows:

R Parker - resigned 1 October 2023

FINANCIAL INSTRUMENTS

The directors continually monitor the business risks that the company is exposed to and where necessary introduce relevant systems to manage those risks. The company also has insurance cover where deemed appropriate to minimise operational risk.

The company's principal financial instruments comprise of bank balances, trade creditors, trade debtors and loans to and from other group companies. The main purpose of these instruments is to raise funds to finance the company's operations. The main risks arising from the financial instruments are interest rate risk and liquidity risk.

Due to the nature of the financial instruments used by the company, there is no exposure to price risk. The company's approach to managing other risks applicable to the financial statements is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of the company's bank balances.

In respect of loans, these are comprised of interest free loans from related companies and to fellow subsidiary undertakings. The company manages the credit and cash flow risk via the regular monitoring of amounts outstanding to related companies and from group undertakings and the active participation in the management of the group undertakings by the directors.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

The directors review and agree policies for managing each of the above risks. These policies remain unchanged from previous years.

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:

A D Wood - Director

5 November 2025

Opinion

We have audited the financial statements of DMA Maintenance Limited (the 'company') for the period ended 31 December 2024 which comprise the Statement of 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 December 2024 and of its profit for the period 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 five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. 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.

Based on our understanding and accumulated knowledge of the company and the sector in which it operates we considered the risk of acts by the company which were contrary to applicable laws and regulations, including fraud and whether such actions or non-compliance might have a material effect on the financial statements. These included but were not limited to those that relate to the form and content of the financial statements, such as the company accounting policies, UK accounting standards and UK Companies Act 2006. All team members were briefed to ensure they were aware of any relevant regulations in relation to their work.

Auditors' responsibilities for the audit of the financial statements - continued

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements, including the risk of override of controls, and determined that the principal risks were related to posting inappropriate journal entries, management bias in accounting estimates and improper revenue recognition associated with period-end cut-off. Our audit procedures included, but were not limited to:

-

Agreement of the financial statements to underlying supporting documentation;

-

Challenging assumptions and judgements made by management in their significant accounting estimates, in particular in relation to accrued and deferred income;

-

Revenue period-end cut-off procedures;

-

Identifying and testing journal entries;

-

Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; and

-

Obtaining an understanding of the control environment in monitoring compliance with laws and regulations.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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.

Simon Paterson (Senior Statutory Auditor)

for and on behalf of RJP LLP

Chartered Certified Accountants &

Statutory Auditors

Ground Floor

Egerton House

68 Baker Street

Weybridge

Surrey

KT13 8AL

10 November 2025

TURNOVER

3

22,732,345

17,305,455

Cost of sales

17,880,494

14,195,724

GROSS PROFIT

4,851,851

3,109,731

Administrative expenses

4,043,270

3,064,457

OPERATING PROFIT

5

808,581

45,274

Interest receivable and similar income

7,711

-

PROFIT BEFORE TAXATION

816,292

45,274

Tax on profit

6

-

(33,812

)

PROFIT FOR THE FINANCIAL PERIOD

816,292

79,086

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

816,292

79,086

FIXED ASSETS

Intangible assets

7

963,241

808,907

Tangible assets

8

93,341

150,090

1,056,582

958,997

CURRENT ASSETS

Debtors

9

6,601,108

3,555,741

Cash at bank and in hand

2,032,737

5,030,418

8,633,845

8,586,159

CREDITORS

Amounts falling due within one year

10

5,452,109

6,134,132

NET CURRENT ASSETS

3,181,736

2,452,027

TOTAL ASSETS LESS CURRENT LIABILITIES

4,238,318

3,411,024

CREDITORS

Amounts falling due after more than one year

11

(46,712

)

(35,710

)

PROVISIONS FOR LIABILITIES

13

(1,557

)

(1,557

)

NET ASSETS

4,190,049

3,373,757

CAPITAL AND RESERVES

Called up share capital

14

100

100

Retained earnings

15

4,189,949

3,373,657

SHAREHOLDERS' FUNDS

4,190,049

3,373,757

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2025 and were signed on its behalf by:

A D Wood - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 30 September 2022

100

3,294,571

3,294,671

Changes in equity

Total comprehensive income

-

79,086

79,086

Balance at 29 September 2023

100

3,373,657

3,373,757

Changes in equity

Total comprehensive income

-

816,292

816,292

Balance at 31 December 2024

100

4,189,949

4,190,049

1.	STATUTORY INFORMATION

DMA Maintenance 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

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Report Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

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 33.7.

The company is permitted to use these exemptions as it is a member of a group where the parent of the group, DMA Group Limited, prepares publicly available consolidated financial statements.

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.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of these financial statements requires estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities. Estimates and judgements are continually evaluated and are based on historical experience and expectations of future events believed to be reasonable.

The directors consider that the following estimates and judgements are likely to have the most significant effect on the amounts recognised in the financial statements:

Revenue recognition

The majority of quoted works have a term greater than one month. An assessment is made of the stage of completion of a project at a period end, requiring an element of judgement.

Estimation of useful life

The charge in respect of periodic amortisation and depreciation is derived after determining an estimate of an asset's expected useful life and the expected residual value at the end of its life. The useful lives of all assets are determined at the time the assets are acquired and reviewed at least annually for appropriateness. The lives are based on historical experience with similar assets as well as anticipation of future events, which may impact their life, such as changes in technology.

Impairments

Judgements are made to the carrying value of intangible fixed assets. Where there are indicators of impairment, the company performs an impairment assessment by considering key factors such as performance, revenue secured, cost savings and projected future growth.

Turnover

Turnover represents revenue earned under a wide variety of contracts to provide maintenance services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which includes an appropriate element of attributable profit (exclusive of Value Added Tax).

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue recorded reflects the accrual of the right to consideration by reference to the value of work performed.

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.

Development costs are amortised evenly over a period of ten years from when the software went live.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful life range is as follows:

Plant and machinery

-

20% on cost

Fixtures and fittings

-

10%, 20% on cost and over length of lease

Motor vehicles

-

25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within the statement of comprehensive income.

Current and deferred taxation

Taxation for the period 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 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 period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Long term contracts

The company classifies as long term those contracts which extend over more than one accounting period.

The amounts recognised as turnover represent the value of work carried out during the period. Where the outcome of the contract can be assessed with reasonable certainty, attributable profit is recognised in proportion to the amount of turnover recognised in the financial statements. Full provision is made for any foreseeable losses.

Amounts recoverable on contracts which are included within debtors, are stated at the net sales value of work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

Debtors

Debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Creditors are measured at the transaction price. Other financial liabilities including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised costs are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at amortised costs, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Invoice discounting facility

The company uses an invoice discount facility and retains all significant benefits and risks relating to the debts. The gross amount of the debts are included within assets and a corresponding liability in respect of proceeds received from the facility are shown within liabilities. The interest and charges are recognised as they accrue and are included in the profit and loss account with other interest charges.

Leasing commitments

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

3.

TURNOVER

The whole of the turnover is attributable to the principal activities of the company.

All turnover arose within the United Kingdom.

4.	EMPLOYEES AND DIRECTORS

Period

30.9.23

to

Year Ended

31.12.24

29.9.23

£

£

Wages and salaries

5,252,479

4,215,844

Social security costs

596,260

446,975

Other pension costs

98,613

69,612

5,947,352

4,732,431

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

Period

30.9.23

to

Year Ended

31.12.24

29.9.23

Management, technical and surveying

38

29

Craftsmen

37

41

Administration

27

19

Apprentices and trainees

1

4

103

93

Period

30.9.23

to

Year Ended

31.12.24

29.9.23

£

£

Directors' remuneration

863,487

734,888

Directors' pension contributions to money purchase schemes

15,531

12,205

Information regarding the highest paid director is as follows:

Period

30.9.23

to

Year Ended

31.12.24

29.9.23

£

£

Emoluments etc

150,000

110,000

Pension contributions to money purchase schemes

1,651

881

5.	OPERATING PROFIT

The operating profit is stated after charging:

Period

30.9.23

to

Year Ended

31.12.24

29.9.23

£

£

Depreciation - owned assets

50,971

42,059

Loss on disposal of fixed assets

76,046

-

Development costs amortisation

126,488

89,014

Auditors' remuneration

15,000

9,250

Auditors' remuneration for non audit work

13,746

30,941

6.

TAXATION

Analysis of the tax credit

The tax credit on the profit for the period was as follows:

Period

30.9.23

to

Year Ended

31.12.24

29.9.23

£

£

Current tax:

UK corporation tax

-

(44,030

)

Adjustment for earlier years

-

10,218

Tax on profit

-

(33,812

)

Reconciliation of total tax credit included in profit and loss

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

Period

30.9.23

to

Year Ended

31.12.24

29.9.23

£

£

Profit before tax

816,292

45,274

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

204,073

11,319

Effects of:

Expenses not deductible for tax purposes

35,574

29,379

Capital allowances in excess of depreciation

(185,290

)

(19,018

)

Adjustments to tax charge in respect of previous periods

-

10,218

Group relief surrendered

35,740

20,091

R&D claim

(90,097

)

(101,535

)

Changes in tax rates used

-

15,734

Total tax credit

-

(33,812

)

7.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 30 September 2023

975,250

Additions

280,822

At 31 December 2024

1,256,072

AMORTISATION

At 30 September 2023

166,343

Amortisation for period

126,488

At 31 December 2024

292,831

NET BOOK VALUE

At 31 December 2024

963,241

At 29 September 2023

808,907

8.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 30 September 2023

40,631

475,180

32,023

547,834

Additions

-

59,398

14,662

74,060

Disposals

(40,398

)

(397,146

)

-

(437,544

)

At 31 December 2024

233

137,432

46,685

184,350

DEPRECIATION

At 30 September 2023

40,448

325,273

32,023

397,744

Charge for period

26

48,478

2,467

50,971

Eliminated on disposal

(40,398

)

(317,308

)

-

(357,706

)

At 31 December 2024

76

56,443

34,490

91,009

NET BOOK VALUE

At 31 December 2024

157

80,989

12,195

93,341

At 29 September 2023

183

149,907

-

150,090

9.

DEBTORS

31.12.24

29.9.23

£

£

Amounts falling due within one year:

Trade debtors

2,548,486

2,644,576

Amounts owed by group undertakings

3,644,916

-

Amounts recoverable on contract

300,338

727,179

Other debtors

4,235

107,659

Tax

268

44,299

Prepayments and accrued income

49,551

14,975

6,547,794

3,538,688