REGISTERED NUMBER: 11676242 (England and Wales)

Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended 28 February 2025

for

Dynamic Office Group Limited

Page

Company Information

1

Group Strategic Report

2

to

4

Report of the Director

5

Report of the Independent Auditors

6

to

9

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

to

29

DIRECTOR:

C Verlander

REGISTERED OFFICE:

Unit 5

Lodge Way

Lodge Farm Industrial Estate

Northampton

Northamptonshire

NN5 7RA

REGISTERED NUMBER:

11676242 (England and Wales)

AUDITORS:

Clifford Roberts

Chartered Accountants &

Statutory Auditors

Pacioli House

9 Brookfield

Duncan Close

Northampton

Northamptonshire

NN3 6WL

INTRODUCTION

The Directors present their strategic report and the financial statements for the Group for the 12 months ended 28th February 2025.

REVIEW OF THE BUSINESS

The principal activity of Dynamic Office Group Limited 'the Group' during the period was wholesaler of office furniture and seating, with an expanding and reasonable contribution from third party logistics. Other than the introduction of third part logistics, there has been no change to the principal activity of the Group during the year and the director does not expect a change in the foreseeable future.

Turnover for the year under review was £16,914,838 compared to £17,911,897 for the year ended 29th February 2024, a decrease of 5.6%. Gross profit margins remained consistent at 47.5% from 47.8% in the prior year. Profit before taxation for the year was £2,612,422 compared to £3,561,477 for the prior year.

At the year end, the Group had Total Equity of £6,207,139. The directors, therefore, believe the Group's position is satisfactory and are optimistic for the future, especially as the Group's current assets exceed its current liabilities by £6,079,911.

Pricing

Continuous review of the customer pricing model is carried out to deliver greater control to the Dynamic margin management programme.

The Group continues to purchase most of its goods for resale in US Dollars. The foreign exchange exposure is limited by the utilisation of forward contracts, reducing the fluctuation in pricing movement from this exposure.

Market Positioning

The Group continues to operate in an extremely competitive market. Dynamic strives to build strong relationships with its customers and potential customers and sees the achievement of long-term repeat business as a measure of its success in this strategy.

The Group's competitive advantage derives from service excellence, wide choice, express delivery, price competitiveness and uniqueness of products. The Group recognises that one of its biggest asset are its employees, who all share the strong commitment to delivering excellence to customers.

PRINCIPAL RISKS AND UNCERTAINTIES

The Director has developed strategies to achieve planned profitable growth into the foreseeable future. The Group continually contributes to product innovation and introduces new products to meet the exacting and changing needs of its market-place. It has invested in highly experience industry experts to further ensure they are ahead of trends in the market.

The Directors continually review the risks facing the business. Where it is considered cost effective, risks to the Group and its business are protected by insurance. External factors, over which the Group has little control, include the effect of government legislation and the buoyancy of economic activity within the United Kingdom. The Group tries to position itself so that it can take advantage of external factors where possible, with a versatile product range that allows the business to adapt to ever changing sales trends.

Cash Flow Risk

The Director manages the Group's working capital requirements predominantly within its own resources. Cashflow is monitored on an ongoing basis to ensure obligations are met. The liquidity risk mainly arises from creditors which arise in the normal course of business. Neither risk is significant to the business.

Customer Risk

To mitigate the potential consequences of the Group being unable to recover sums due to it from its customers, it carries out full status checks on prospective clients prior to the commencement of any contract it undertakes with them and continues to review the credit status of existing clients on a regular basis. Credit insurance is put in place for individual customers, as necessary.

Foreign Exchange Risk

The Group's sales are predominately in Sterling. Costs of goods for resale are principally in the US Dollar. There is a currency risk in respect of the exchange rate between Sterling and the US Dollar which is monitored daily and where appropriate use is made of currency forward contracts and other instruments.

The Director is satisfied that the Group has taken all measures necessary to minimise the risks facing the business and is well positioned to take advantage of future organic and inorganic growth opportunities and the significant changes taking place in its marketplace.

FUTURE DEVELOPMENT

Going forward the directors do not envisage any changes in the principle activity of the Group. The business continues to make investment to the upholstery functionality in 2025 in both machinery and personnel to assist in the growth of our bespoke upholstery options.

We have considered the impact of inflation on the operation of the Group's business. We anticipate that there will be some short-term risk to inventory pricing, however the business is confident that the pricing strategy in place we will not require aggressive pricing adjustments.

Management are pleased to have been re- awarded, post year end, with ISO9001 - 2015 certification in quality management. The impact of the Group's operations on the environment alongside the Group's sustainability and ethical polices remain important, the stated aim is to be net zero by 2050.

KEY PERFORMANCE INDICATORS

The Directors' use both financial and non-financial key performance indicators to monitor the business. The ongoing performance of the business is achieved through many measures including:

- review of regular management accounts information and variance analysis

- review of cost of goods sold %

- review of gross profit %

- review of wages to salary ratio %

- review of the feedback from customers' and how well their expectations are being met.

- staff satisfaction is measured via annual staff survey

- health and safety compliance

ON BEHALF OF THE BOARD:

C Verlander - Director

5 September 2025

The director presents his report with the financial statements of the company and the group for the year ended 28 February 2025.

DIVIDENDS

An interim dividend of £2,330 per share was paid on 8 April 2024. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 28 February 2025 will be £ 419,400 .

DIRECTOR

C Verlander held office during the whole of the period from 1 March 2024 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

Principal activity, disclosures relating to events occurring after the year end, likely future developments, research and development activities, financial risk management objectives, policies and the exposure to cashflow, customer and foreign exchange risks are all disclosed within the strategic report (as defined by section 414 C (11) of the Companies Act 2006).

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 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 director is 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 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 group's auditors are aware of that information.

AUDITORS

The auditors, Clifford Roberts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C Verlander - Director

5 September 2025

Opinion

We have audited the financial statements of Dynamic Office Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 28 February 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 28 February 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 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 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 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 Group 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 Group 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 Group Strategic Report and the Report of the Director 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 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 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 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 five, 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 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 director either intends to liquidate the group or the parent 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.

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:

-

We obtained an understanding of the legal and regulatory framework applicable to the group and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, UK Generally Accepted Accounting Practice and UK corporate taxation laws.

-

We obtained an understanding of how the group is complying with those legal and regulatory frameworks by making inquiries to the management and by observing the oversight of management, the culture of honesty and ethical behaviour and whether strong emphasis is placed on fraud prevention, which may reduce the opportunities for fraud to take place, and fraud deterrence, which could persuade individuals not to commit fraud in the first instance . We corroborated our inquiries through our review of all relevant available audit information.

-

We assessed and understood the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. The audit procedures performed by the engagement team included:

>

Identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud;

>

Understanding of how senior management considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

>

Challenging assumptions and judgements made by management in its significant accounting estimates;

>

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; and,

>

Assessing the extent of compliance with relevant laws and regulations.

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

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

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Adam Billingham BA (Hons) BFP FCA (Senior Statutory Auditor)

for and on behalf of Clifford Roberts

Chartered Accountants &

Statutory Auditors

Pacioli House

9 Brookfield

Duncan Close

Northampton

Northamptonshire

NN3 6WL

5 September 2025

TURNOVER

3

16,914,838

17,911,897

Cost of sales

8,880,629

9,342,245

GROSS PROFIT

8,034,209

8,569,652

Distribution costs

2,897,792

2,171,299

Administrative expenses

2,508,937

2,732,253

5,406,729

4,903,552

2,627,480

3,666,100

Other operating income

16,290

2,388

OPERATING PROFIT

5

2,643,770

3,668,488

Interest receivable and similar income

643

500

2,644,413

3,668,988

Interest payable and similar expenses

6

31,991

107,511

PROFIT BEFORE TAXATION

2,612,422

3,561,477

Tax on profit

7

661,007

864,541

PROFIT FOR THE FINANCIAL YEAR

1,951,415

2,696,936

Profit attributable to:

Owners of the parent

1,592,551

2,203,407

Non-controlling interests

358,864

493,529

1,951,415

2,696,936

PROFIT FOR THE YEAR

1,951,415

2,696,936

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,951,415

2,696,936

Total comprehensive income attributable to:

Owners of the parent

1,592,551

2,203,407

Non-controlling interests

358,864

493,529

1,951,415

2,696,936

FIXED ASSETS

Intangible assets

10

(35,913

)

(55,740

)

Tangible assets

11

353,355

265,407

Investments

12

-

-

317,442

209,667

CURRENT ASSETS

Stocks

13

3,021,578

3,568,678

Debtors

14

4,488,019

3,757,085

Cash at bank and in hand

1,153,516

414,884

8,663,113

7,740,647

CREDITORS

Amounts falling due within one year

15

2,583,202

3,123,342

NET CURRENT ASSETS

6,079,911

4,617,305

TOTAL ASSETS LESS CURRENT LIABILITIES

6,397,353

4,826,972

CREDITORS

Amounts falling due after more than one year

16

(105,186

)

(99,183

)

PROVISIONS FOR LIABILITIES

20

(85,028

)

(52,665

)

NET ASSETS

6,207,139

4,675,124

CAPITAL AND RESERVES

Called up share capital

21

180

180

Retained earnings

22

4,851,878

3,678,727

SHAREHOLDERS' FUNDS

4,852,058

3,678,907

NON-CONTROLLING INTERESTS

1,355,081

996,217

TOTAL EQUITY

6,207,139

4,675,124

The financial statements were approved by the director and authorised for issue on 5 September 2025 and were signed by:

C Verlander - Director

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

-

-

Investments

12

372,876

372,876

372,876

372,876

CURRENT ASSETS

Debtors

14

444,264

101,970

Cash at bank

299,265

141,079

743,529

243,049

CREDITORS

Amounts falling due within one year

15

883,848

132,892

NET CURRENT (LIABILITIES)/ASSETS

(140,319

)

110,157

TOTAL ASSETS LESS CURRENT LIABILITIES

232,557

483,033

CREDITORS

Amounts falling due after more than one year

16

-

12,916

NET ASSETS

232,557

470,117

CAPITAL AND RESERVES

Called up share capital

21

180

180

Retained earnings

22

232,377

469,937

SHAREHOLDERS' FUNDS

232,557

470,117

Company's profit for the financial year

181,840

241,118

The financial statements were approved by the director and authorised for issue on 5 September 2025 and were signed by:

C Verlander - Director

Called up

share

Retained

Non-controlling

Total

capital

earnings

Total

interests

equity

£

£

£

£

£

Balance at 1 March 2023

180

1,775,320

1,775,500

502,688

2,278,188

Changes in equity

Dividends

-

(300,000

)

(300,000

)

-

(300,000

)

Total comprehensive income

-

2,203,407

2,203,407

493,529

2,696,936

Balance at 29 February 2024

180

3,678,727

3,678,907

996,217

4,675,124

Changes in equity

Dividends

-

(419,400

)

(419,400

)

-

(419,400

)

Total comprehensive income

-

1,592,551

1,592,551

358,864

1,951,415

Balance at 28 February 2025

180

4,851,878

4,852,058

1,355,081

6,207,139

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 March 2023

180

528,819

528,999

Changes in equity

Dividends

-

(300,000

)

(300,000

)

Total comprehensive income

-

241,118

241,118

Balance at 29 February 2024

180

469,937

470,117

Changes in equity

Dividends

-

(419,400

)

(419,400

)

Total comprehensive income

-

181,840

181,840

Balance at 28 February 2025

180

232,377

232,557

Cash flows from operating activities

Cash generated from operations

1

2,772,524

1,229,162

Interest paid

(19,867

)

(91,554

)

Interest element of hire purchase payments paid

(12,124

)

(15,957

)

Tax paid

(1,020,716

)

(656,485

)

Net cash from operating activities

1,719,817

465,166

Cash flows from investing activities

Purchase of intangible fixed assets

(7,280

)

(7,419

)

Purchase of tangible fixed assets

(285,697

)

(45,276

)

Sale of tangible fixed assets

-

11,200

Interest received

643

500

Net cash from investing activities

(292,334

)

(40,995

)

Cash flows from financing activities

New HP loan in year

177,604

-

Capital repayments in year

(55,140

)

(117,033

)

Amount introduced by directors

10,000

-

Amount withdrawn by directors

(401,915

)

-

Equity dividends paid

(419,400

)

(300,000

)

Net cash from financing activities

(688,851

)

(417,033

)

Increase in cash and cash equivalents

738,632

7,138

Cash and cash equivalents at beginning of year

2

414,884

407,746

Cash and cash equivalents at end of year

2

1,153,516

414,884

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

2025

2024

£

£

Profit before taxation

2,612,422

3,561,477

Depreciation charges

185,202

131,821

Profit on disposal of fixed assets

-

(11,200

)

Finance costs

31,991

107,511

Finance income

(643

)

(500

)

2,828,972

3,789,109

Decrease in stocks

547,100

329,596

Increase in trade and other debtors

(339,019

)

(42,871

)

Decrease in trade and other creditors

(264,529

)

(2,846,672

)

Cash generated from operations

2,772,524

1,229,162

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 28 February 2025

28.2.25

1.3.24

£

£

Cash and cash equivalents

1,153,516

414,884

Year ended 29 February 2024

29.2.24

1.3.23

£

£

Cash and cash equivalents

414,884

407,746

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.24

Cash flow

At 28.2.25

£

£

£

Net cash

Cash at bank and in hand

414,884

738,632

1,153,516

414,884

738,632

1,153,516

Debt

Finance leases

(114,777

)

(122,464

)

(237,241

)

(114,777

)

(122,464

)

(237,241

)

Total

300,107

616,168

916,275

1.	STATUTORY INFORMATION

Dynamic Office Group Limited is a private company, limited by shares, incorporated and domiciled in England and has its registered office and principle place of business at Unit 5, Lodge Way, Lodge Farm Industrial Estate, Northampton, NN5 7RA. 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 applicable United Kingdom accounting standards, including Financial Reporting Standard 102 - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The financial statements are presented in Sterling (£) and cover the period to the last day of February each year.

Going Concern

At the time of approving the financial statements, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements after taking into account the potential impact of current global issues on the group.

Basis of consolidation

The group financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to the last day of February each year. The results of subsidiaries acquired or sold are consolidated for the periods from or to the date on which control passed. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the group. All intra-group transactions, balances, income and expenses are eliminated on consolidation.

Significant judgements and estimates

In the application of the group's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

(a) Determining net realisable values of stock

In determining the net realisable value of stocks, management takes into account the most reliable evidence available at the dates the estimates are made. Stock is initially recognised at cost and reviewed for potential provision. A provision has been applied to stock which is considered to be slow moving or obsolete, based upon the sales data in the past 12 months..

(b) Goodwill and other intangible assets

Intangible assets are reviewed annually for impairment. Management determines the recoverable amount using all management information available, inclusive of information post the balance sheet date. Where the economic life is considered to be impaired the intangible asset is provided for accordingly.