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REGISTERED NUMBER: 10601632 (England and Wales)












Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 May 2024

for

Outform UK Limited

Outform UK Limited (Registered number: 10601632)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


Outform UK Limited

Company Information
for the year ended 31 May 2024







DIRECTOR: A Haroush





REGISTERED OFFICE: 2 Chancery Place
Millstone Lane
Leicester
Leicestershire
LE15 5JN





REGISTERED NUMBER: 10601632 (England and Wales)





AUDITORS: Clayton & Brewill
Statutory Auditors and
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

Outform UK Limited (Registered number: 10601632)

Strategic Report
for the year ended 31 May 2024

The director presents his strategic report for the year ended 31 May 2024.

REVIEW OF BUSINESS
The trade and assets of Outform UK Ltd were transferred at market value to Outform Group UK Ltd (formerly Alrec Ltd) on the 1st June 2023.

ON BEHALF OF THE BOARD:





A Haroush - Director


2 July 2025

Outform UK Limited (Registered number: 10601632)

Report of the Director
for the year ended 31 May 2024

The director presents his report with the financial statements of the company for the year ended 31 May 2024.

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

DIRECTOR
A Haroush held office during the whole of the period from 1 June 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Clayton & Brewill, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A Haroush - Director


2 July 2025

Report of the Independent Auditors to the Members of
Outform UK Limited

Opinion
We have audited the financial statements of Outform UK Limited (the 'company') for the year ended 31 May 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 May 2024 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Outform UK Limited


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 Director.

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 director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- 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;

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.

Report of the Independent Auditors to the Members of
Outform UK Limited


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.




Mr Douglas Perry FCA (Senior Statutory Auditor)
for and on behalf of Clayton & Brewill
Statutory Auditors and
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

2 July 2025

Outform UK Limited (Registered number: 10601632)

Statement of Comprehensive
Income
for the year ended 31 May 2024

31/5/24 31/5/23
Notes £    £   

TURNOVER - 10,816,591

Cost of sales - 7,764,502
GROSS PROFIT - 3,052,089

Administrative expenses (73,817 ) 5,552,741
73,817 (2,500,652 )

Other operating income - 1,450,412
OPERATING PROFIT/(LOSS) 5 73,817 (1,050,240 )

Profit/loss on sale of invest 6 - 190,808
73,817 (859,432 )

Interest receivable and similar income - 49,641
73,817 (809,791 )

Interest payable and similar expenses 7 - 37,847
PROFIT/(LOSS) BEFORE TAXATION 73,817 (847,638 )

Tax on profit/(loss) 8 - (33,477 )
PROFIT/(LOSS) FOR THE
FINANCIAL YEAR

73,817

(814,161

)

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

73,817

(814,161

)

Outform UK Limited (Registered number: 10601632)

Balance Sheet
31 May 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 - 55,496

CURRENT ASSETS
Stocks 10 - 193,009
Debtors 11 2,512,653 8,324,354
Cash at bank - 295,487
2,512,653 8,812,850
CREDITORS
Amounts falling due within one year 12 53,173 6,322,851
NET CURRENT ASSETS 2,459,480 2,489,999
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,459,480

2,545,495

PROVISIONS FOR LIABILITIES 15 515,000 674,832
NET ASSETS 1,944,480 1,870,663

CAPITAL AND RESERVES
Called up share capital 16 200 200
Retained earnings 17 1,944,280 1,870,463
SHAREHOLDERS' FUNDS 1,944,480 1,870,663

The financial statements were approved by the director and authorised for issue on 2 July 2025 and were signed by:





A Haroush - Director


Outform UK Limited (Registered number: 10601632)

Statement of Changes in Equity
for the year ended 31 May 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 June 2022 200 2,684,624 2,684,824

Changes in equity
Total comprehensive income - (814,161 ) (814,161 )
Balance at 31 May 2023 200 1,870,463 1,870,663

Changes in equity
Total comprehensive income - 73,817 73,817
Balance at 31 May 2024 200 1,944,280 1,944,480

Outform UK Limited (Registered number: 10601632)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Outform UK 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.

This company is a retail innovation consultancy

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemption 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.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost and 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Outform UK Limited (Registered number: 10601632)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in Statement of Comprehensive Income.

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.

Foreign currencies
Functional and presentation currency

The Company's functional and presentational currency is GBP

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non- monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'other operating income'.

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.

Outform UK Limited (Registered number: 10601632)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The critical judgements that the directors have made in the process of applying the company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below.

(i) Assessing indicators of impairment

In assessing whether there have been any indicators of impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience of recoverability and where applicable, the ability of the asset to be operated as planned. There have been no indicators of impairment identified during the current financial year.

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

(ii) Recoverability of trade and other receivables

The company establishes a provision for trade and other receivables that are estimated not to be recoverable. When assessing recoverability the directors have considered factors such as the ageing of the receivables, past experiences of recoverability, financial position of the other party and the credit profile of individual or groups of customers.

(iii) Stock provisioning

The company reviews stock for non moving and obsolete items, and determines whether a provision would be appropriate. The directors consider factors such as the age of the stock, the ability for sale, faults with items and any other indicators which may suggest that stock needs to be provided for. It should be noted that inherent faults are covered under the manufacturers warranty and as such no war anty provision is deemed to be required.

(iv) Other provisions

Where sales are made under a warranty agreement, the directors will review to assess whether any provision against potential future repair work is required. When considering if a provision should be made for future repair work, the directors consider repair work over the past periods in order to make an estimation of the value of future repair work.

The directors will also review additional provisions where it is deemed that they should be made against future obligations. The directors will estimate the value of the future cost utilising past experience and their knowledge in order to be able to make these provisions.

Outform UK Limited (Registered number: 10601632)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

4. EMPLOYEES AND DIRECTORS
31/5/24 31/5/23
£    £   
Wages and salaries - 3,025,225
Social security costs - 337,691
Other pension costs - 193,731
- 3,556,647

The average number of employees during the year was as follows:
31/5/24 31/5/23

Staff - 47

31/5/24 31/5/23
£    £   
Director's remuneration - -

5. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging/(crediting):

31/5/24 31/5/23
£    £   
Venue Hire - 333,878
Depreciation - owned assets - 110,539
Loss on disposal of fixed assets - 3,199
Auditors' remuneration - 19,700
Foreign exchange differences - (59,089 )

6. EXCEPTIONAL ITEMS
31/5/24 31/5/23
£    £   
Exceptional items - (514,855 )
Profit/loss on sale of invest - 190,808
- (324,047 )

The company underwent restructuring procedures during the 2023 period. As part of the restructure, costs of £514,855 were incurred.

The company sold 100% of its shareholding in subsidiary Outform Technical Plastics Ltd on the 22nd February 2023. Proceeds of £394,000 were received for the sale. A profit of £190,808 has been calculated on the sale after taking into account the original cost of shares and associated sale costs.

7. INTEREST PAYABLE AND SIMILAR EXPENSES
31/5/24 31/5/23
£    £   
Loan interest - 37,847

Outform UK Limited (Registered number: 10601632)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

8. TAXATION

Analysis of the tax credit
The tax credit on the profit for the year was as follows:
31/5/24 31/5/23
£    £   
Deferred tax - (33,477 )
Tax on profit/(loss) - (33,477 )

Reconciliation of total tax credit 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:

31/5/24 31/5/23
£    £   
Profit/(loss) before tax 73,817 (847,638 )
Profit/(loss) multiplied by the standard rate of corporation tax in
the UK of 25% (2023 - 19%)

18,454

(161,051

)

Effects of:
Expenses not deductible for tax purposes - 607
Income not taxable for tax purposes 19,419 (36,254 )
Capital allowances in excess of depreciation (19 ) -
Depreciation in excess of capital allowances - 37,146
provisions

Losses carried forward (37,854 ) 159,552
Deferred tax movement - (33,477 )
Total tax credit - (33,477 )

9. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 27,049 4,512 16,587
Reclassification/transfer (27,049 ) (4,512 ) (16,587 )
At 31 May 2024 - - -
DEPRECIATION
At 1 June 2023 15,779 3,504 8,694
Reclassification/transfer (15,779 ) (3,504 ) (8,694 )
At 31 May 2024 - - -
NET BOOK VALUE
At 31 May 2024 - - -
At 31 May 2023 11,270 1,008 7,893

Outform UK Limited (Registered number: 10601632)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

9. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 5,025 330,504 383,677
Reclassification/transfer (5,025 ) (330,504 ) (383,677 )
At 31 May 2024 - - -
DEPRECIATION
At 1 June 2023 4,618 295,586 328,181
Reclassification/transfer (4,618 ) (295,586 ) (328,181 )
At 31 May 2024 - - -
NET BOOK VALUE
At 31 May 2024 - - -
At 31 May 2023 407 34,918 55,496

10. STOCKS
31/5/24 31/5/23
£    £   
Stocks - 54,501
Work-in-progress - 138,508
- 193,009

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors - 2,771,291
Amounts owed by group undertakings 2,268,569 5,028,980
Other debtors 61,916 -
Tax 182,168 -
Prepayments and accrued income - 524,083
2,512,653 8,324,354

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade creditors - 1,001,131
Amounts owed to group undertakings - 2,003,081
Tax - (182,168 )
Social security and other taxes - 97,133
VAT 11,992 956,784
Other creditors 41,181 43,663
Accruals and deferred income - 2,403,227
53,173 6,322,851

Outform UK Limited (Registered number: 10601632)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/5/24 31/5/23
£    £   
Within one year - 59,636

14. SECURED DEBTS

Obligations under finance leases and hire purchase contracts are secured by the assets to which they relate.

15. PROVISIONS FOR LIABILITIES
31/5/24 31/5/23
£    £   
Other provisions 515,000 674,832

Other
provisions
£   
Balance at 1 June 2023 674,832
Utilised during year (159,832 )
Balance at 31 May 2024 515,000

The other provisions balance is made up of a warranty provision and a provision for dilapidation.

The warranty provision of £NIL (2023: £58,314) represents estimated future costs in relation to faulty or returned goods, calculated as a percentage of sales based on historic spend and return rates.

The dilapidations provision of £515,000 (2023: £616,518) represents amounts in respect of estimated dilapidations costs.

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/24 31/5/23
value: £    £   
200 Ordinary 1 200 200

17. RESERVES
Retained
earnings
£   

At 1 June 2023 1,870,463
Profit for the year 73,817
At 31 May 2024 1,944,280

18. PENSION COMMITMENTS

The company operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £NIL (2023 - £193,731). A balance of £NIL (2023 - £20,248) was outstanding as at the year end in relation to pension commitments.

Outform UK Limited (Registered number: 10601632)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

19. ULTIMATE PARENT COMPANY

Rapid Displays Inc (incorporated in USA ) is regarded by the director as being the company's ultimate parent company.