REGISTERED NUMBER: 13922379 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 March 2025

for

Nordan PDS Manufacturing Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

T J Fairley

Mrs L Gibbons

A K Rasmussen

D Kroslid

Ms G Irvine

C Greenwood

REGISTERED OFFICE:

Greenvale Business Park

Todmorden Road

Todmorden Park

Littleborough

Lancashire

OL15 9AZ

REGISTERED NUMBER:

13922379 (England and Wales)

AUDITORS:

Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

The directors present their strategic report of the company and the group for the year ended 31 March 2025.

REVIEW OF BUSINESS

The group's aim is to continue to trade without the need for financing. The directors continue to monitor future cash flows closely to ensure working capital requirements are met.

The group's key financial performance indicators during the year were as follows:

Turnover - £16,361,923 (2024 - £13,382,947)

Operating Profit - £1,647,250 (2024 - £486,137)

Gross Profit Percentage - 34.21% (2024 - 41.82%)

The Nordan PDS Manufacturing Limited group is committed to a responsible approach to business and seeks to manage the impact of the business activities and, in doing so, makes a positive contribution to the well being of the customers and communities it operates in

PRINCIPAL RISKS AND UNCERTAINTIES

The group is subject to a number of key risks which are reviewed in formal meetings, and where appropriate, assessments and procedures are discussed to mitigate the effect.

Competitive pressure

The group is aware of the competitive pressure in the UK. The group responds to this pressure by continuing to provide quality products and service and keeping its product range up to date.

Liquidity risk

Liquidity risk is the risk that the group will not be able to meet its financial obligations as they fall due. The group seeks to manage liquidity risk by ensuring sufficient liquidity is available to meet foreseeable needs. The directors are of the opinion that the risk management processes adopted which involves the review, monitoring and where possible mitigation of the risks identified is appropriate to the business.

Financial risk

The group's finance director and accounting team operates procedures designed to reduce or eliminate financial risk. The policies are approved by the Board and the use of financial instruments is strictly controlled.

The group's principle financial instruments comprise cash and various items, such as trade debtors and trade creditors that arise directly from its operations. The group does not use forward foreign currency contracts to manage the currency rate risks arising from the company's operations. The group does not use interest rate swaps to manage the interest rate risks arising from the company's operations.

FUTURE DEVELOPMENTS

The directors expect the general level of activity to remain consistent with the current period and continue to be profitable.

KEY PERFORMANCE INDICATORS

The board monitors by reference to a number of key performance indicators, produced alongside monthly management accounts.

GOING CONCERN

The directors and management have recognised the principal risks and uncertainties which could affect the business and have considered the extent to which they may materialise.

ON BEHALF OF THE BOARD:

T J Fairley - Director

27 August 2025

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

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

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

T J Fairley

Mrs L Gibbons

Other changes in directors holding office are as follows:

A K Rasmussen , D Kroslid , Ms G Irvine and C Greenwood were appointed as directors after 31 March 2025 but prior to the date of this report.

G Greaves and K Barnes ceased to be directors after 31 March 2025 but prior to the date of this report.

POLITICAL DONATIONS AND EXPENDITURE

Charitable donations of £19,295 were made in the year (2024 - £30,484).

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Richard Smedley Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

T J Fairley - Director

27 August 2025

Opinion

We have audited the financial statements of Nordan PDS Manufacturing Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

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

- We identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and sector experience;

- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements, including the Companies Act 2006 and taxation legislation. The company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on the financial statements, for instance through the imposition of fines, penalties or litigation such as employment, environmental, health and safety and building regulations;

- We asses the external compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

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

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

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

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

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

- Tested journal entries to identify unusual transactions;

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

- Investigated the rationale behind any significant or unusual transactions.

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

- Agreeing financial statements disclosures to underlying supporting documentation

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

- Reviewing correspondence with HMRC and relevant regulators websites for notice of any breaches; and

- Review of relevant legal or professional costs within the accounting records for any evidence of previously undetected or unreported instances of non-compliance.

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

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.

Richard Smedley (Senior Statutory Auditor)

for and on behalf of Richard Smedley Limited

Chartered Accountants & Registered Auditors

Richmond House

Lawnswood Business Park

Redvers Close

Leeds

West Yorkshire

LS16 6QY

2 September 2025

TURNOVER

4

16,361,923

13,382,947

Cost of sales

10,764,696

9,166,028

GROSS PROFIT

5,597,227

4,216,919

Distribution costs

439,501

363,453

Administrative expenses

3,539,432

3,367,329

3,978,933

3,730,782

1,618,294

486,137

Other operating income

28,956

-

OPERATING PROFIT

6

1,647,250

486,137

Interest receivable and similar income

12,193

5,691

PROFIT BEFORE TAXATION

1,659,443

491,828

Tax on profit

7

354,893

86,967

PROFIT FOR THE FINANCIAL YEAR

1,304,550

404,861

Profit attributable to:

Owners of the parent

1,304,550

404,861

PROFIT FOR THE YEAR

1,304,550

404,861

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,304,550

404,861

Total comprehensive income attributable to:

Owners of the parent

1,304,550

404,861

FIXED ASSETS

Tangible assets

9

629,810

340,533

Investments

10

435,364

435,364

1,065,174

775,897

CURRENT ASSETS

Stocks

11

1,757,368

1,657,315

Debtors

12

2,835,182

1,827,068

Cash at bank and in hand

2,585,355

2,596,341

7,177,905

6,080,724

CREDITORS

Amounts falling due within one year

13

3,480,755

2,215,510

NET CURRENT ASSETS

3,697,150

3,865,214

TOTAL ASSETS LESS CURRENT LIABILITIES

4,762,324

4,641,111

CREDITORS

Amounts falling due after more than one year

14

-

(81,000

)

PROVISIONS FOR LIABILITIES

16

(131,540

)

(55,012

)

NET ASSETS

4,630,784

4,505,099

CAPITAL AND RESERVES

Called up share capital

17

600

900

Non-distributable reserve

18

131,300

131,300

Capital redemption reserve

18

300

-

Retained earnings

18

4,498,584

4,372,899

SHAREHOLDERS' FUNDS

4,630,784

4,505,099

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2025 and were signed on its behalf by:

T J Fairley - Director

Mrs L Gibbons - Director

FIXED ASSETS

Tangible assets

9

-

-

Investments

10

608,400

608,400

608,400

608,400

CURRENT ASSETS

Debtors

12

25,135

4,000

CREDITORS

Amounts falling due within one year

13

6,281

3,064

NET CURRENT ASSETS

18,854

936

TOTAL ASSETS LESS CURRENT LIABILITIES

627,254

609,336

CAPITAL AND RESERVES

Called up share capital

17

600

900

Capital redemption reserve

300

-

Retained earnings

626,354

608,436

SHAREHOLDERS' FUNDS

627,254

609,336

Company's profit for the financial year

1,196,783

936

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2025 and were signed on its behalf by:

T J Fairley - Director

Called up

Capital

share

Retained

Non-distributable

redemption

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 April 2023

900

3,968,038

131,300

-

4,100,238

Changes in equity

Total comprehensive income

-

404,861

-

-

404,861

Balance at 31 March 2024

900

4,372,899

131,300

-

4,505,099

Changes in equity

Purchase of own shares

(300

)

(1,178,865

)

-

300

(1,178,865

)

Total comprehensive income

-

1,304,550

-

-

1,304,550

Balance at 31 March 2025

600

4,498,584

131,300

300

4,630,784

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2023

900

607,500

-

608,400

Changes in equity

Total comprehensive income

-

936

-

936

Balance at 31 March 2024

900

608,436

-

609,336

Changes in equity

Purchase of own shares

(300

)

(1,178,865

)

300

(1,178,865

)

Total comprehensive income

-

1,196,783

-

1,196,783

Balance at 31 March 2025

600

626,354

300

627,254

Cash flows from operating activities

Cash generated from operations

1

1,808,706

1,654,296

Tax paid

(21,494

)

-

Net cash from operating activities

1,787,212

1,654,296

Cash flows from investing activities

Purchase of tangible fixed assets

(531,526

)

(323,618

)

Sale of tangible fixed assets

30,000

-

Interest received

12,193

5,691

Net cash from investing activities

(489,333

)

(317,927

)

Cash flows from financing activities

Amount withdrawn by directors

(130,000

)

-

Share issue

(300

)

-

Share buyback

(1,178,565

)

-

Net cash from financing activities

(1,308,865

)

-

(Decrease)/increase in cash and cash equivalents

(10,986

)

1,336,369

Cash and cash equivalents at beginning of year

2

2,596,341

1,259,972

Cash and cash equivalents at end of year

2

2,585,355

2,596,341

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

31.3.25

31.3.24

£

£

Profit before taxation

1,659,443

491,828

Depreciation charges

242,249

241,431

Profit on disposal of fixed assets

(30,000

)

-

Finance income

(12,193

)

(5,691

)

1,859,499

727,568

(Increase)/decrease in stocks

(100,053

)

516,285

(Increase)/decrease in trade and other debtors

(878,114

)

589,122

Increase/(decrease) in trade and other creditors

927,374

(178,679

)

Cash generated from operations

1,808,706

1,654,296

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

2,585,355

2,596,341

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

2,596,341

1,259,972

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

2,596,341

(10,986

)

2,585,355

2,596,341

(10,986

)

2,585,355

Total

2,596,341

(10,986

)

2,585,355

1.	PURCHASE OF OWN SHARES

During the year, the company purchased 300 of its own £1 ordinary shares for a total consideration of £1,178,865. The remaining share capital after this transaction was 600 £1 ordinary shares

2.	STATUTORY INFORMATION

Nordan PDS Manufacturing 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 General Information page.

3.	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 financial statements are prepared in sterling, which is the functional currency of the group.

The consolidated financial statements incorporate those of PDS Manufacturing Limited and all of its subsidiaries (i.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits).

Basis of consolidation

On 29 June 2022, Nordan PDS Manufacturing Limited purchased 100% of the shares in Littleborough Investment Partnership Limited via a share for share exchange. As such, the consolidated accounts qualified for Merger Relief and so have been prepared using Merger Accounting.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

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.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover

Revenue is recognised to the extent that is it probable that the economic benefits will flow to the the Group and the revenue can be reliably measured. Revenue is measurable as the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales tax. 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 Group has transferred the significant risks and rewards of ownership to the buyer;

- the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can measured reliably;

- it is probable that the Group 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.

Tangible fixed assets

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

Short leasehold

-

33.33% on cost

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiaries are measured at cost less accumulated impairment.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs.

Financial instruments

Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

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

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

Pension costs and other post-retirement benefits

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

Going concern

In carrying out their duties in respect of going concern, the directors have carried out a review of the group's financial position for a period of 12 months from the date of signing these financial statements. These have been based on a comprehensive review of revenue, the expenditure and cash position. The group currently meets its day-to-day working capital requirements through its cash balance, which is sufficient to cover working capital requirements.

Having taken all of the above factors into consideration, the directors have reached a conclusion that the group is able to manage its business risk. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

4.

TURNOVER

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

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

31.3.25

31.3.24

£

£

Product sales

16,361,923

13,382,947

16,361,923

13,382,947