REGISTERED NUMBER: NI073690 (Northern Ireland)

NEWELL STORES (COALISLAND) LIMITED

Strategic Report, Directors' Report and

Audited Financial Statements for the Year Ended 31 January 2025

Page

Company Information

1

Strategic Report

2

to

3

Directors' Report

4

to

5

Independent Auditors' Report

6

to

8

Income Statement

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

to

19

DIRECTORS:

C J Conway

P Conway

REGISTERED OFFICE:

50 Newell Road

Dungannon

Co. Tyrone

BT70 1EG

REGISTERED NUMBER:

NI073690 (Northern Ireland)

INDEPENDENT AUDITORS:

CavanaghKelly

Chartered Accountants and Statutory Auditors

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

BANKERS:

Danske Bank

5-6 Market Square

Dungannon

Co. Tyrone

BT70 1AB

SOLICITORS:

Millar, Shearer and Black

40 Molesworth Street

Cookstown

Co. Tyrone

BT80 8PH

The directors present their strategic report for the year ended 31 January 2025.

REVIEW OF BUSINESS

The directors aim to present a balanced and comprehensive review of the development and performance of the company during the year and its position at the year end. The review is consistent with the size and nature of the company and is written in the context of the risks and uncertainties faced.

The directors' consider that they key performance indicators are those that communicate the company's financial performance as a whole, being revenue, gross profit and operating profit.

Sales during the year decreased from £11,923,177 to £11,657,507. Gross profit decreased from £3,373,794 to £3,369,374. Operating costs and administrative costs have increased, resulting in a profit before tax of £130,210 (2024: £409,801). The company continues to trade well with a consistent gross profit margin.

PRINCIPAL RISKS AND UNCERTAINTIES

The main risks from the company's operations are business interruption, customer proposition, food and product safety and credit risk and liquidity. The directors review and agree policies for managing each of these risks and they are summarised below. The policies have remained unchanged from previous years.

Business Interruption

Distribution and systems infrastructures are fundamental to ensuring the normal continuity of trading in the store. If an accident occurred to this infrastructure or another key facility, this could have a detrimental impact on the company's ability to operate effectively.

Customer proposition

We operate in a very competitive industry. Also, our customers' shopping habits are influenced by broader economic factors that our business does not control. If we fail to keep our proposition aligned with customers' expectations, then they may choose not to shop with us and sales will suffer.

Food and product safety

We are aware that, if we fail to deliver excellent standards of hygiene and safety in our products, there is a potential to harm our customers and damage our business reputation. Food safety is of paramount importance.

FUTURE DEVELOPMENTS

The company is committed to long term creation of shareholder value by increasing the company's market share. The company aims to increase revenue and operating profits. The company will continue to meet the needs of customers and develop innovative solutions for their needs while remaining highly competitive.

FINANCIAL KEY PERFORMANCE INDICATORS

The key performance indicators of the business include:

2025

2024

Revenue

£11,657,507

£11,923,177

Gross Profit

£3,369,374

£3,373,794

Gross profit margin

28.90%

28.30%

The directors are pleased with the results for the year and believe the company continues to operate strongly in a very competitive market.

STRATEGY & DEVELOPMENT

The company's success is dependant on the ongoing management of business risks and uncertainties it faces. The company will continue to improve upon its position and concentrate on achieving maximum growth in its market sector while at the same time continuing to improve efficiency in all areas of its operations.

BUSINESS ENVIRONMENT

The local supermarket retailing market is highly saturated with multiple large supermarkets operating in the surrounding area as well as independent retailers. The company is performing well and appears strong despite its saturated nature.

EMPLOYEES

The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

Information on matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company performance.

ON BEHALF OF THE BOARD:

C J Conway - Director

23 July 2025

The director presents his report with the audited financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY

The principal activity of the Company in the year under review was that of a retail supermarket.

DIVIDENDS

Interim dividend of £NIL (2024: £NIL) was paid to Newell Group Limited for the year ended 31 January 2025 and the directors do not recommend the payment of a final dividend. (2024: £NIL).

DIRECTORS

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

C J Conway

P Conway

DISCLOSURES REQUIRED UNDER SCHEDULE 7

In accordance with Section 414C (11) of Companies Act 2006, the directors have elected to disclose details of the business review, principal risks and uncertainties, employment policy and future developments in the company's Strategic Report which would otherwise be required to be disclosed in the Directors' Report.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Strategic Report, the Directors' Report 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

AUDITORS

The auditors, CavanaghKelly, have indicated their willingness to continue in office in accordance with the provision of Section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

C J Conway - Director

23 July 2025

Opinion

We have audited the financial statements of Newell Stores (Coalisland) Limited (the 'Company') for the year ended 31 January 2025 which comprise the Income Statement, Statement of Financial Position, 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 January 2025 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 directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Auditors' Report 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement 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 Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report 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:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The objectives of our audit in respect of fraud are to assess the risk of material misstatement due to fraud, design and implement appropriate responses to those assessed risks and to respond appropriately to instances of fraud or suspected fraud identified during the course of our audit. However, the primary responsibility for the prevention and detection of fraud rests with management and those charged with governance of the company.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud - continued

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

-

We obtained understanding of the legal and regulatory requirements applicable to the company’s financial statements and considered the most significant are the Companies Act 2006, Financial Reporting Standards (FRS102) and UK taxation legislation;

-

We have assessed the risk of material misstatement of the financial statements, including risk of material misstatement due to fraud and how it might occur by holding discussions with management and those charged with governance;

-

We enquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations;

-

Understanding the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; and

-

Discussions amongst the audit engagement team regarding how fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion we identified the following potential areas where fraud may occur: timing of revenue recognition and management override.

The audit response to risks identified included:

-

Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the relevant laws and regulations above;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud;

In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are reasonable and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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 Auditors' Report.

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 an Auditors' Report 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 Ryan Falls (FCA) (Senior Statutory Auditor)

for and on behalf of CavanaghKelly

Chartered Accountants and Statutory Auditors

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

23 July 2025

REVENUE

4

11,657,507

11,923,177

Cost of sales

(8,288,133

)

(8,549,383

)

GROSS PROFIT

3,369,374

3,373,794

Operating costs

(1,605,126

)

(1,479,485

)

Administrative expenses

(1,457,745

)

(1,287,045

)

OPERATING PROFIT

6

306,503

607,264

Finance income

2,721

487

309,224

607,751

Finance costs

7

(179,014

)

(197,950

)

PROFIT BEFORE TAXATION

130,210

409,801

Tax on profit

8

(41,337

)

(133,199

)

PROFIT FOR THE FINANCIAL YEAR

88,873

276,602

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

88,873

276,602

NON-CURRENT ASSETS

Intangible assets

9

457,687

508,541

Property, plant and equipment

10

6,111,868

6,281,679

6,569,555

6,790,220

CURRENT ASSETS

Inventories

11

466,310

421,233

Receivables

12

167,620

152,701

Cash at bank and in hand

307,243

521,106

941,173

1,095,040

PAYABLES

Amounts falling due within one year

13

(4,240,957

)

(5,521,252

)

NET CURRENT LIABILITIES

(3,299,784

)

(4,426,212

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,269,771

2,364,008

PAYABLES

Amounts falling due after more than one year

14

(830,642

)

-

PROVISIONS FOR LIABILITIES

15

(4,862

)

(18,614

)

NET ASSETS

2,434,267

2,345,394

CAPITAL AND RESERVES

Called up share capital

16

1

1

Retained earnings

17

2,434,266

2,345,393

SHAREHOLDERS' FUNDS

2,434,267

2,345,394

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:

C J Conway - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

1

2,068,791

2,068,792

Changes in equity

Total comprehensive income

-

276,602

276,602

Balance at 31 January 2024

1

2,345,393

2,345,394

Changes in equity

Total comprehensive income

-

88,873

88,873

Balance at 31 January 2025

1

2,434,266

2,434,267

1.	STATUTORY INFORMATION

Newell Stores (Coalisland) Ltd is a private company, limited by shares, registered in Northern Ireland, within the United Kingdom. The company's registered number and registered office can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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 are stated in sterling which is the functional currency of the company.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company accounting policies. No critical judgements or critical accounting estimates have been applied to these financial statements.

The following accounting policies have been applied consistently throughout the year.

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirement of paragraph 33.7.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements in accordance with generally accepted accounting principles requires management to make estimates, judgements and assumptions that affect the reported amounts of assets and liabilities, income and expenditure in the reporting period. Actual results could differ from those estimates. Management believes there are no critical accounting judgements or key sources of estimation uncertainties.

Revenue

Revenue is recognised to the extent that 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 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.

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.

Property, plant and equipment

Property, plant and equipment are stated at cost, less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful life as follows:

Freehold property 2% on cost

Fixtures and fittings 20% on reducing balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories

Inventories are valued at the lower of cost and net realisable value. Inventories are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

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 the income statement in the period to which they relate.

Patents and licences

The directors consider the intangible asset to have an indefinite useful life and therefore no amortisation has been provided.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held at call with banks.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from proceeds.

4.

REVENUE

The revenue and profit before taxation are attributable to the one principal activity of the Company.

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,570,317

1,598,090

Social security costs

98,065

86,417

Other pension costs

23,811

21,369

1,692193

1,705,876

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

2025

2024

Administration

1

1

Selling and distribution

107

106

108

107

2025

2024

£

£

Directors' remuneration

-

-

6.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Hire of plant and machinery

5,855

5,605

Depreciation - owned assets

179,886

205,074

Patents and licences amortisation

50,854

-

Auditors' remuneration

8,850

8,425

7.	FINANCE COSTS

2025

2024

£

£

Bank loan interest

60,981

7,431

Other interest paid

853

727

Interest on intercompany

balances

117,180

189,792

179,014

197,950

8.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

55,089

115,197

Adjustments in respect of

prior period

-

15,815

Total current tax

55,089

131,012

Deferred tax

(13,752

)

2,187

Tax on profit

41,337

133,199

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

130,210

409,801

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 24.030%)

32,553

98,475

Effects of:

Expenses not deductible for tax purposes

55

212

Depreciation in excess of capital allowances

33,280

16,510

Deferred tax

(13,752

)

2,187

Group relief

(10,799

)

-

Under provision in respect to the prior year

-

15,815

Total tax charge

41,337

133,199

9.	INTANGIBLE FIXED ASSETS

Patents and

licences

£

COST

At 1 February 2024

and 31 January 2025

508,541

AMORTISATION

Amortisation for year

50,854

At 31 January 2025

50,854

NET BOOK VALUE

At 31 January 2025

457,687

At 31 January 2024

508,541

10.	PROPERTY, PLANT AND EQUIPMENT

Land and

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 February 2024

6,605,781

2,118,919

8,724,700

Additions

-

10,075

10,075

At 31 January 2025

6,605,781

2,128,994

8,734,775

DEPRECIATION

At 1 February 2024

830,965

1,612,056

2,443,021

Charge for year

78,335

101,551

179,886

At 31 January 2025

909,300

1,713,607

2,622,907

NET BOOK VALUE

At 31 January 2025

5,696,481

415,387

6,111,868

At 31 January 2024

5,774,816

506,863

6,281,679

11.	INVENTORIES

2025

2024

£

£

Finished goods

466,310

421,233

12.	RECEIVABLES

2025

2024

£

£

Trade receivables

776

2,264

Other receivables

102,003

71,754

Prepayments

64,841

78,683

167,620

152,701

13.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade payables

734,615

739,866

Amounts owed to group undertakings

2,834,134

4,425,892

Amounts owed to associates

269,358

-

Tax

51,346

70,197

Social security and other taxes

19,278

20,057

VAT

22,777

26,437

Other payables

101,497

107,489

Accruals and deferred income

207,952

131,314

4,240,957

5,521,252

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

14.

PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR

2025

2024

£

£

Amounts owed to associates

830,642

-

Amounts owed to associates are secured by a fixed charge over land and premises at Lineside Coalisland