REGISTERED NUMBER: SC116101 (Scotland)

CAMPBELL MEYER & CO LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

to

4

Report of the Independent Auditors

5

to

8

Statement of Income and Retained Earnings

9

Balance Sheet

10

Notes to the Financial Statements

11

to

19

DIRECTORS:

C S Barclay

C A Purdie

D E Barclay

A Campbell

M B J Lulham

REGISTERED OFFICE:

3 Peel Park Place

College Milton Industrial Estate (South)

East Kilbride

Lanarkshire

G74 5LW

REGISTERED NUMBER:

SC116101 (Scotland)

AUDITORS:

Azets Audit Services

Chartered Accountants

Statutory Auditor

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

BANKERS:

Clydesdale Bank plc

30 St Vincent Place

Glasgow

G1 2HL

SOLICITORS:

Pinsent Masons

141 Bothwell Street

Glasgow

G2 7EQ

The directors present their strategic report for the year ended 31 December 2024.

The principal activity of the company is that of whisky blenders, bottlers and exporters.

REVIEW OF BUSINESS

Company turnover decreased from £13,076,997 for the year to 31 December 2023 to £9,824,487 for the year to 31 December 2024. Profits before tax decreased from £669,325 for the period to 31 December 2023 to a loss of £226,939 for the year to 31 December 2024.

At the year end the company had shareholder funds of £4,061,427 including distributable profits of £4,061,427.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors have assessed the main risk facing the company as being competition from other businesses within the whisky and other spirits market. The directors believe that their knowledge of the industry and position in the market mitigates this risk. The directors hope to see continued growth and satisfactory results in the coming year.

KEY PERFORMANCE INDICATORS ('KPI'S')

Given the straightforward nature of the business, the directors are of the opinion that analysis using KPI's is not necessary for an understanding of the development, performance or position of the business.

FUTUTRE OUTLOOK

Futher growth is anticipated in the coming year as the group continues to seek new opportunities to expand its core business.

FINANCIAL INSTRUMENTS

The company finances its operations through a mixture of retained profits and operational bank accounts, and where necessary to fund expansion or capital expenditure programmes, through bank borrowings, hire purchase and finance leasing. The company manages its exposure to foreign currency exchange by forward contracts. The management's objectives are to:

- retain sufficient liquid funds to enable it to meet its day to day obligations as they fall due whilst maximising returns on surplus funds;

- minimise the company's exposure to fluctuating interest rates when seeking new borrowings; and

- match the repayment schedule of any external borrowings or overdrafts with the future cash flows expected to arise from the companies trading activities.

The company is exposed to the normal credit risk associated with dealing with customers on commercial credit terms.

EMPLOYEE INVOLVEMENT

Members of the management team regularly meet and discuss matters of current interest and concern to the business with member of staff.

ON BEHALF OF THE BOARD:

C S Barclay - Director

26 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITIES

The principal activities of the company in the year under review were those of whisky blenders, bottlers and exporters.

DIVIDENDS

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

DIRECTORS

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

C S Barclay

C A Purdie

D E Barclay

A Campbell

Other changes in directors holding office are as follows:

S Ballingall - resigned 3 December 2024

M B J Lulham was appointed as a director after 31 December 2024 but prior to the date of this report.

G McSherry ceased to be a director after 31 December 2024 but prior to the date of this report.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the 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 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, Azets Audit Services, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C S Barclay - Director

26 September 2025

Opinion

We have audited the financial statements of Campbell Meyer & Co Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 December 2024 and of its loss 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 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 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 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the 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, 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 three, 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 a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and 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 indicators of potential bias.

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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.

Kirsty Mackie BAcc CA (Senior Statutory Auditor)

for and on behalf of Azets Audit Services

Chartered Accountants

Statutory Auditor

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

26 September 2025

TURNOVER

9,824,487

13,076,997

Cost of sales

(6,918,626

)

(8,699,084

)

GROSS PROFIT

2,905,861

4,377,913

Administrative expenses

(3,113,469

)

(3,693,310

)

(207,608

)

684,603

Other operating income

-

(336

)

OPERATING (LOSS)/PROFIT

(207,608

)

684,267

Interest receivable and similar income

-

543

(207,608

)

684,810

Interest payable and similar expenses

4

(19,331

)

(15,485

)

(LOSS)/PROFIT BEFORE TAXATION

5

(226,939

)

669,325

Tax on (loss)/profit

6

50,190

(157,698

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(176,749

)

511,627

Retained earnings at beginning of year

4,238,076

3,726,449

RETAINED EARNINGS AT END OF YEAR

4,061,327

4,238,076

FIXED ASSETS

Tangible assets

7

31,183

24,494

CURRENT ASSETS

Stocks

8

1,128,417

1,511,069

Debtors

9

4,135,287

4,734,088

Cash at bank and in hand

69,559

335,977

5,333,263

6,581,134

CREDITORS

Amounts falling due within one year

10

1,296,551

2,353,222

NET CURRENT ASSETS

4,036,712

4,227,912

TOTAL ASSETS LESS CURRENT LIABILITIES

4,067,895

4,252,406

CREDITORS

Amounts falling due after more than one year

11

6,468

14,230

NET ASSETS

4,061,427

4,238,176

CAPITAL AND RESERVES

Called up share capital

15

100

100

Retained earnings

4,061,327

4,238,076

SHAREHOLDERS' FUNDS

4,061,427

4,238,176

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

C S Barclay - Director

1.	STATUTORY INFORMATION

Campbell Meyer & Co Limited is a private company, limited by shares, registered in Scotland. The company's registered number is SC116101 and registered office is 3 Peel Park Place, College Milton Industrial Estate (South), East Kilbride, G74 5LW

The nature of the company's operations and its principal activities is that of whisky blenders, bottlers and exporters.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows.

Critical accounting judgements and key sources of estimation uncertainty

In preparing these financial statements, the directors have not made any critical accounting judgements or utilised any key sources of estimation uncertainty.

Turnover

Revenue - described as turnover - is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

4-10% straight line

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Costs include raw materials, direct expenses and financing costs in respect of whisky stocks during their normal maturation period.

Financial instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derivative financial instruments

Derivative financial instruments are recognised at fair value. The gain or loss on remeasurement to fair value is recognised immediately in profit or loss. However, where derivatives qualify for hedge accounting, recognition of any resultant gain or loss depends on the nature of the item being hedged.

Foreign currency forward contracts

Foreign currency forward contracts are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at fair value through profit or loss. Outstanding derivatives at year end are included within other debtors.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Foreign currencies

Transactions denominated in foreign currencies are recorded at the rates of exchange ruling at the dates of the transactions, or at an average rate for the period if the rates do not fluctuate significantly. Monetary assets and liabilities are translated at year end exchange rates or, where appropriate, at rates of exchange fixed under the terms of the relevant transaction. The resulting exchange rate differences are charged to the profit and loss account.

Where assets and liabilities are denominated in the same currency the proceeds from the assets are used to settle the liabilities so that no exchange differences are realised on these transactions. The directors periodically review the assets to ensure that they will realise sufficient proceeds to settle the related liabilities as they fall due.

Leases

Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

Rental income

All rental income received or receivable in respect of rental assets is accounted for on an operating lease basis. Income from the rental of these assets is credited to revenue on a strict time -apportioned basis.

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,225,118

1,668,586

Social security costs

109,147

115,127

Other pension costs

30,296

25,515

1,364,561

1,809,228

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

2024

2023

Accounts and administration

13

13

Warehouse & bottling

32

35

45

48

2024

2023

£

£

Directors' remuneration

12,000

114,171

Directors' pension contributions to money purchase schemes

-

1,750

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest

357

-

Hire purchase

931

931

Corporation tax interest

18,043

14,554

19,331

15,485

5.	(LOSS)/PROFIT BEFORE TAXATION

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

2024

2023

£

£

Hire of plant and machinery

138,713

147,157

Other operating leases

586,350

523,372

Depreciation - owned assets

2,205

1,752

Depreciation - assets on hire purchase contracts

9,008

7,946

Profit on disposal of fixed assets

(515

)

-

Auditors' remuneration

11,076

11,150

Foreign exchange differences

25,431

93,860

6.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

-

160,168

Adjustment in respect of

previous periods

(50,190

)

(2,470

)

Tax on (loss)/profit

(50,190

)

157,698

UK corporation tax has been charged at 25% (2023 - 23.52%).

Reconciliation of total tax (credit)/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:

2024

2023

£

£

(Loss)/profit before tax

(226,939

)

669,325

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%)

(56,735

)

157,425

Effects of:

Expenses not deductible for tax purposes

1,942

2,034

Adjustments to tax charge in respect of previous periods

-

(2,470

)

Movement in unprovided deferred tax

1,841

709

Indexation allowances and rebasing

(129

)

-

Difference in tax rates on losses carried back

2,891

-

Total tax (credit)/charge

(50,190

)

157,698

7.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

-

5,566

105,177

2,768

113,511

Additions

2,667

-

17,902

-

20,569

Disposals

(2,667

)

-

-

-

(2,667

)

At 31 December 2024

-

5,566

123,079

2,768

131,413

DEPRECIATION

At 1 January 2024

-

5,566

80,683

2,768

89,017

Charge for year

-

-

11,213

-

11,213

At 31 December 2024

-

5,566

91,896

2,768

100,230

NET BOOK VALUE

At 31 December 2024

-

-

31,183

-

31,183

At 31 December 2023

-

-

24,494

-

24,494

The net book value of tangible fixed assets includes £ 15,166 (2023 - £ 24,174 ) in respect of assets held under hire purchase contracts.

8.

STOCKS

2024

2023

£

£

Stocks

1,128,417

1,511,069

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

796,433

1,141,166

Amounts owed by group undertakings

3,037,386

3,185,689

Other debtors

-

119,048

VAT

43,089

67,979

Prepayments and accrued income

258,379

220,206

4,135,287

4,734,088

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 12)

6,169

-

Hire purchase contracts (see note 13)

7,762

7,762

Trade creditors

845,533

1,767,726

Corporation Tax

117,975

346,399

Social security and other taxes

25,394

38,565

Other creditors

-

22

Accruals and deferred income

293,718

192,748

1,296,551

2,353,222

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 13)

6,468

14,230

12.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

6,169

-

13.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2024

2023

£

£

Net obligations repayable:

Within one year

7,762

7,762

Between one and five years

6,468

14,230

14,230

21,992

Non-cancellable

operating leases

2024

2023

£

£

Within one year

550,000

550,000

Between one and five years

1,100,000

1,650,000

1,650,000

2,200,000

14.	FINANCIAL INSTRUMENTS

The carrying amount for each category of financial instrument is as follows:

2024

2023

£

£

Financial assets

Financial assets that are debt instruments measured at amortised cost

3,833,819

4,445,903

Cash and cash equivalents

69,559

335,977

3,903,378

4,781,880

Financial liabilities

Financial liabilities measured at amortised cost

865,932

1,789,717