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REGISTERED NUMBER: 03389903 (England and Wales)

Francis Trading Holdings Limited

Unaudited Financial Statements

for the Year Ended

31 December 2024

| Francis Trading Holdings Limited (Registered number: 03389903) |

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| Francis Trading Holdings Limited |

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | Mrs P J Swindell

| Mrs S J Robinson

| M A Swindell

| SECRETARY: | Mrs P J Swindell

| REGISTERED OFFICE: | Unit 9B,

| Thorpe Close,

| Banbury,

| Oxfordshire

| OX16 8SW

| REGISTERED NUMBER: | 03389903 (England and Wales)

| ACCOUNTANTS: | Moffat Gilbert

| Unit 12

| Shottery Brook Office Park

| Timothy's Bridge Road

| Stratford upon Avon

| Warwickshire

| CV37 9NR

| Francis Trading Holdings Limited (Registered number: 03389903) |

Balance Sheet

31 December 2024

| 31.12.24 | 31.12.23 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 1,031,246 |  | 1,066,741 |  |

Investments | 6 | 1,000 |  | 1,000 |  |

1,032,246 |  | 1,067,741 |  |

CURRENT ASSETS

Debtors | 7 | 104,442 |  | 99,489 |  |

Cash at bank | 704,971 |  | 712,596 |  |

809,413 |  | 812,085 |  |

CREDITORS

Amounts falling due within one year | 8 | 30,890 |  | 35,627 |  |

NET CURRENT ASSETS | 778,523 |  | 776,458 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,810,769 |  | 1,844,199 |  |

PROVISIONS FOR LIABILITIES | 52,837 |  | 58,360 |  |

NET ASSETS | 1,757,932 |  | 1,785,839 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 1,000 |  | 1,000 |  |

Non-distributable reserve | 10 | 461,492 |  | 460,766 |  |

Retained earnings | 10 | 1,295,440 |  | 1,324,073 |  |

SHAREHOLDERS' FUNDS | 1,757,932 |  | 1,785,839 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| Francis Trading Holdings Limited (Registered number: 03389903) |

Balance Sheet - continued

31 December 2024

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

M A Swindell - Director

| Francis Trading Holdings Limited (Registered number: 03389903) |

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Francis Trading Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Preparation of consolidated financial statements

| The financial statements contain information about Francis Trading Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Turnover

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

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 1997, was amortised evenly over its estimated useful life of twenty years.

| 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.

| Computer software is being amortised evenly over its estimated useful life of five years.

| Tangible fixed assets

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

| Freehold property | - | 2% on cost

| Plant and machinery | - | 20% on reducing balance and over the remaining term of the leases

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 20% on reducing balance

| The rates of depreciation on the property have been reviewed according to the various components of the building. The rate of depreciation on the main building is at the rate of 2% straight line per annum and the directors are confident that the roof should also be depreciated at this rate. Other major components have been included within the other asset categories to depreciate them at an increased rate in accordance with their estimated life span.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

| Francis Trading Holdings Limited (Registered number: 03389903) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| Operating leases

| Leases which do not pass the risks and rewards of ownership to the company are charged to the profit and loss account as incurred, with due regard to the accruals concept.

| Pensions

| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the year are charged in the profit and loss account.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2023 - 4 ) .

4. | INTANGIBLE FIXED ASSETS

| Computer |

| Goodwill |  | software |  | Totals

£ | £ | £ |

| COST

| At 1 January 2024

| and 31 December 2024 | 30,000 |  | 3,718 |  | 33,718 |  |

| AMORTISATION

| At 1 January 2024

| and 31 December 2024 | 30,000 |  | 3,718 |  | 33,718 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  | - |  | - |  |

| At 31 December 2023 | - |  | - |  | - |  |

| Francis Trading Holdings Limited (Registered number: 03389903) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | TANGIBLE FIXED ASSETS

| Freehold |  | Plant and

| property |  | Tooling |  | machinery

£ | £ | £ |

| COST OR VALUATION

| At 1 January 2024 | 985,000 |  | 26,905 |  | 390,772 |  |

| Additions | - |  | - |  | 760 |  |

| At 31 December 2024 | 985,000 |  | 26,905 |  | 391,532 |  |

| DEPRECIATION

| At 1 January 2024 | 37,800 |  | 26,905 |  | 314,203 |  |

| Charge for year | 12,600 |  | - |  | 15,466 |  |

| At 31 December 2024 | 50,400 |  | 26,905 |  | 329,669 |  |

| NET BOOK VALUE

| At 31 December 2024 | 934,600 |  | - |  | 61,863 |  |

| At 31 December 2023 | 947,200 |  | - |  | 76,569 |  |

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST OR VALUATION

| At 1 January 2024 | 33,914 |  | 45,813 |  | 20,549 |  | 1,502,953 |  |

| Additions | - |  | - |  | 1,200 |  | 1,960 |  |

| At 31 December 2024 | 33,914 |  | 45,813 |  | 21,749 |  | 1,504,913 |  |

| DEPRECIATION

| At 1 January 2024 | 29,642 |  | 8,399 |  | 19,263 |  | 436,212 |  |

| Charge for year | 869 |  | 7,483 |  | 1,037 |  | 37,455 |  |

| At 31 December 2024 | 30,511 |  | 15,882 |  | 20,300 |  | 473,667 |  |

| NET BOOK VALUE

| At 31 December 2024 | 3,403 |  | 29,931 |  | 1,449 |  | 1,031,246 |  |

| At 31 December 2023 | 4,272 |  | 37,414 |  | 1,286 |  | 1,066,741 |  |

| Cost or valuation at 31 December 2024 is represented by:

| Freehold |  | Plant and

| property |  | Tooling |  | machinery

£ | £ | £ |

| Valuation in 2015 | 171,192 |  | - |  | - |  |

| Valuation in 2020 | 145,000 |  | - |  | - |  |

| Cost | 668,808 |  | 26,905 |  | 391,532 |  |

985,000 |  | 26,905 |  | 391,532 |  |

| Francis Trading Holdings Limited (Registered number: 03389903) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | TANGIBLE FIXED ASSETS - continued

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| Valuation in 2015 | - |  | - |  | - |  | 171,192 |  |

| Valuation in 2020 | - |  | - |  | - |  | 145,000 |  |

| Cost | 33,914 |  | 45,813 |  | 21,749 |  | 1,188,721 |  |

33,914 |  | 45,813 |  | 21,749 |  | 1,504,913 |  |

| If freehold land and buildings had not been revalued they would have been included at the following historical cost:

| 31.12.24 |  | 31.12.23

£ | £ |

| Cost | 668,808 |  | 668,808 |  |

| Aggregate depreciation | 225,410 |  | 215,234 |  |

| Value of land in freehold land and buildings | 160,000 |  | 160,000 |  |

| Freehold land and buildings were valued on an open market basis on 31 December 2020 by Messrs Bankier Sloan .

| The value of the land held within the revalued freehold property cost of £985,000 is considered to be £355,000 and therefore this element has not been depreciated.

6. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 1,000 |  |

| NET BOOK VALUE

| At 31 December 2024 | 1,000 |  |

| At 31 December 2023 | 1,000 |  |

| Francis Trading Holdings Limited (Registered number: 03389903) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

6. | FIXED ASSET INVESTMENTS - continued

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| Swindell Painting Limited

| Registered office: Unit 9B Thorpe Close Banbury Oxfordshire

| Nature of business: Supply and finishing of metal components

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 31.12.24 |  | 31.12.23

£ | £ |

| Aggregate capital and reserves | 44,269 |  | 58,498 |  |

| (Loss)/profit for the year | (18,831 | ) | 23,335 |  |

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 1,200 |  | 1,229 |  |

| Amounts owed by group undertakings | 86,897 |  | 71,897 |  |

| Other debtors | - |  | 10,000 |  |

| Tax | - |  | 4,521 |  |

| Prepayments | 144 |  | 130 |  |

| Interest receivable | 16,201 |  | 11,712 |  |

104,442 |  | 99,489 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.24 |  | 31.12.23

£ | £ |

| Trade creditors | 230 |  | 6,976 |  |

| Tax | 180 |  | - |  |

| Social security and other taxes | 2,076 |  | 2,306 |  |

| VAT | 11,802 |  | 2,794 |  |

| Other creditors | 1,099 |  | 1,085 |  |

| Directors' current accounts | 606 |  | 2,635 |  |

| Accrued expenses | 14,897 |  | 19,831 |  |

30,890 |  | 35,627 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.24 |  | 31.12.23

| value: | £ | £ |

| 1,000 | Ordinary | £1 | 1,000 |  | 1,000 |  |

| Francis Trading Holdings Limited (Registered number: 03389903) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

10. | RESERVES

| Retained |  | Non-distributable |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 January 2024 | 1,324,073 |  | 460,766 |  | 1,784,839 |  |

| Deficit for the year | (27,907 | ) | (27,907 | ) |

| Release of surplus depreciation on revaluation of freehold property | 2,424 |  | (2,424 | ) | - |  |

| Deferred tax movement on revaluation | (3,150 | ) | 3,150 |  | - |  |

| At 31 December 2024 | 1,295,440 |  | 461,492 |  | 1,756,932 |  |

| The non-distributable reserve wholly relates to the surplus on revaluation of the freehold property.

11. | RELATED PARTY DISCLOSURES

| The company provided management services to its subsidiary undertaking, Swindell Painting Limited, during the year in the amount of £73,800 (2023 £126,000). The net balance owed to the company by the subsidiary company, Swindell Painting Limited, as at 31st December 2024 was in the amount of £86,897 (2023 £71,897).

12. | ULTIMATE CONTROLLING PARTY

| Mr M A and Mrs P J Swindell are the joint ultimate controlling parties of the company.