REGISTERED NUMBER: 04790147 (England and Wales)

R L IMPORT LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Strategic Report

2

to

3

Report of the Directors

4

to

5

Report of the Independent Auditors

6

to

8

Statement of Income and Retained Earnings

9

Statement of Financial Position

10

Statement of Cash Flows

11

Notes to the Statement of Cash Flows

12

Notes to the Financial Statements

13

to

20

DIRECTORS:

A Bonnett

P Green

SECRETARY:

A Bonnett

REGISTERED OFFICE:

Stretton Block

Ironstone Lane

Market Overton

Oakham

Rutland

LE15 7TP

REGISTERED NUMBER:

04790147 (England and Wales)

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

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

REVIEW OF BUSINESS

2024 saw a decrease in overall performance compared with 2023, albeit with some positive aspects. Turnover reduced by £1.4m (8%) net of discounts and rebates, with Gross Profit also reducing to £2.6m (16.3% of turnover), although it should be noted that some of the reduction in Gross Margin is the result of a change in labour cost classification (some labour costs were previously recorded as overhead but have been reclassified as direct costs in 2024).

The business is highly exposed to fluctuations in exchange rate and the cumulative FX loss for the year was £37k, compared to a substantial gain (£97k) in 2023. This also accounts for some of the drop-off in Gross Margin.

Overheads were contained well during the year, at £107k below budgeted levels, although £120k up on the previous year.

The combined result of these factors is a profit before taxation of £178k. The Statement of Financial position therefore reports shareholder funds increased from £1.92m to £1.99m (net of dividends) as at 31/12/24.

KEY PERFORMANCE INDICATORS

The main financial KPIs chosen to demonstrate the financial performance of the company are as follows:

Turnover - decrease 8% (2023 decrease 1.65%)

Gross profit 16.3% (2023 16.9%)

Stock turn 3.46 times (2023 4.9 times)

Operating profit £219k (2023 £696k)

NON-FINANCIAL INDICATORS

The Company continues to develop a wide range of new products to meet customer demand. The increased use of recyclable and recycled materials, in both products and packaging, are key to its commitment to minimising the impact of its activities on the environment.

Further examples of the ongoing improvements under the Ethical and Sustainability commitment are a reduction in the volume of packaging used, combined with efficient use of space in shipping containers and the consolidation of our supplier base in China.

Given the significant exposure to fluctuations in foreign exchange rates, in 2024 the company adopted a hedging strategy to mitigate this exposure. Under this policy, a proportion of the USD requirement is purchased on forward contracts.

PRINCIPAL RISKS AND UNCERTAINTIES

Credit risk

The Company's exposure to failure of its customers to pay is minimal. It has a close working relationship with the small customer base and monitors the credit exposure.

Currency risk

The company has exposure to foreign exchange rates with regard to imported supplies. In 2023 and throughout 2024, The Company began using forward contracts to mitigate this exposure and continues to use other resources to manage currency fluctuations.

Economic risk

The company is reliant on the UK economy and demand for lighting products. The increasing bank interest rate has the impact of reducing personal disposable income and dampening demand generally. However, this is regarded as cyclical.

The retail philosophy of regular sales events and discounting is costly and is not always within the company's control. However, the company continues to work closely with its customers to mitigate the impact.

Financing risk

The company continues to rely on external finance facilities from its bank for its continued operation, and also on the shareholders. Both parties have committed to continued finance provision for the following year.

Continued supply risk

The company relies upon its overseas suppliers to support its major customers. The directors maintain very strong links with the suppliers to ensure favourable credit terms and continued supply.

ON BEHALF OF THE BOARD:

A Bonnett - Director

29 September 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of importing lighting products for wholesale distribution.

DIVIDENDS

Interim dividends per share were paid as follows:

150

- 28 March 2024

150

- 28 June 2024

150

- 30 September 2024

150

- 30 December 2024

600

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be £ 60,000 .

EVENTS SINCE THE END OF THE YEAR

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

DIRECTORS

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

A Bonnett

P Green

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Duncan & Toplis Audit Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A Bonnett - Director

29 September 2025

Opinion

We have audited the financial statements of R L Import Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, Statement of Cash Flows and Notes to the Statement of Cash Flows, 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 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 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 Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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:

We have identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial experience, knowledge of the sector, a review of regulatory and legal correspondence and through discussions with Directors and other management obtained as part of the work required by auditing standards. We have also discussed with the Directors and other management the policies and procedures relating to compliance with laws and regulations. We communicated laws and regulations throughout the team and remained alert to any indications of non-compliance throughout the audit.

The potential impact of different laws and regulations varies considerably. Firstly, the company is subject to laws and regulations that directly impact the financial statements (for example financial reporting legislation) and we have assessed the extent of compliance with such laws as part of our financial statements audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgemental areas of the financial statements such as depreciation of tangible fixed assets, as well as the risk of inappropriate journal entries to increase reported profitability. Audit procedures performed by the engagement team included the identification and testing of material and unusual journal entries and challenging management on key accounting estimates, assumptions and judgements made in the preparation of the financial statements. We carried out detailed substantive tests on accounting estimates, including reviewing the methods used by management to make those estimates, re-performing the calculation, and reviewing the outcome of prior year estimates.

Secondly, the company is subject to other laws and regulations where the consequence for non compliance could have a material effect on the amounts or disclosures in the financial statements. We identified the following areas as those most likely to have such an effect: Health and Safety regulations and Employment laws.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Directors and other management and inspection. This inspection included an assessment of the company’s employment and health and safety controls. Through these procedures, if we became aware of any non-compliance, we considered the impact on the procedures performed on the related financial statement items.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. As with any audit, there is a greater risk of non-detection of irregularities as these may involve collusion, intentional omissions of the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

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.

Michael Argyle BSc ACA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

29 September 2025

REVENUE

3

16,181,994

17,588,660

Cost of sales

13,550,562

14,604,670

GROSS PROFIT

2,631,432

2,983,990

Distribution costs

8,897

5,863

Administrative expenses

2,402,932

2,282,041

2,411,829

2,287,904

OPERATING PROFIT

5

219,603

696,086

Interest payable and similar expenses

6

41,447

50,845

PROFIT BEFORE TAXATION

178,156

645,241

Tax on profit

7

47,640

21,952

PROFIT FOR THE FINANCIAL YEAR

130,516

623,289

Retained earnings at beginning of year

1,921,694

1,358,405

Dividends

8

(60,000

)

(60,000

)

RETAINED EARNINGS AT END OF YEAR

1,992,210

1,921,694

FIXED ASSETS

Intangible assets

9

-

-

Property, plant and equipment

10

139,453

173,008

139,453

173,008

CURRENT ASSETS

Inventories

11

5,926,145

6,360,829

Debtors

12

2,048,032

2,386,150

Cash at bank

445,393

70,791

8,419,570

8,817,770

CREDITORS

Amounts falling due within one year

13

6,541,485

6,954,439

NET CURRENT ASSETS

1,878,085

1,863,331

TOTAL ASSETS LESS CURRENT LIABILITIES

2,017,538

2,036,339

CREDITORS

Amounts falling due after more than one year

14

-

(92,593

)

PROVISIONS FOR LIABILITIES

18

(25,228

)

(21,952

)

NET ASSETS

1,992,310

1,921,794

CAPITAL AND RESERVES

Called up share capital

19

100

100

Retained earnings

20

1,992,210

1,921,694

SHAREHOLDERS' FUNDS

1,992,310

1,921,794

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

A Bonnett - Director

P Green - Director

Cash flows from operating activities

Cash generated from operations

1

178,409

265,023

Interest paid

(41,447

)

(50,845

)

Net cash from operating activities

136,962

214,178

Cash flows from investing activities

Purchase of tangible fixed assets

(9,207

)

(19,457

)

Net cash from investing activities

(9,207

)

(19,457

)

Cash flows from financing activities

New loans in year

279,217

32,985

Loan repayments in year

(255,207

)

(558,673

)

Payments received on account

376,954

610,512

Amount introduced by directors

50,000

24,716

Amount withdrawn by directors

(72,117

)

(111,292

)

Amounts owed to related parties

(72,000

)

(59,222

)

Equity dividends paid

(60,000

)

(60,000

)

Net cash from financing activities

246,847

(120,974

)

Increase in cash and cash equivalents

374,602

73,747

Cash and cash equivalents at beginning of year

2

70,791

(2,956

)

Cash and cash equivalents at end of year

2

445,393

70,791

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

2024

2023

£

£

Profit before taxation

178,156

645,241

Depreciation charges

42,762

45,747

Finance costs

41,447

50,845

262,365

741,833

Decrease in inventories

434,684

491,977

Decrease/(increase) in trade and other debtors

338,118

(61,585

)

Decrease in trade and other creditors

(856,758

)

(907,202

)

Cash generated from operations

178,409

265,023

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

445,393

70,791

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

70,791

-

Bank overdrafts

-

(2,956

)

70,791

(2,956

)

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank

70,791

374,602

445,393

70,791

374,602

445,393

Debt

Debts falling due within 1 year

(255,207

)

(116,603

)

(371,810

)

Debts falling due after 1 year

(92,593

)

92,593

-

(347,800

)

(24,010

)

(371,810

)

Total

(277,009

)

350,592

73,583

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£) and is rounded to the nearest £.

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.

Revenue

Revenue is recognised when goods are despatched and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment

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

Short leasehold

-

33% on cost and 10% on cost

Leasehold Improvements

-

10% on reducing balance

Plant and machinery

-

10% on cost

Office Equipment & Furniture and Fittings

-

20% on cost and 10% on cost

Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments

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

Basic financial assets, including trade and other debtors and cash and bank balances 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.

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.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in the income statement, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

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) 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.

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Trade creditors 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The 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.

3.

REVENUE

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

The company's principal activity was carried on within the United Kingdom.

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

1,247,651

1,067,227

Social security costs

120,622

97,684

Other pension costs

49,251

46,142

1,417,524

1,211,053

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

2024

2023

Directors

2

2

Admin

5

4

Design

5

4

Supervisors

3

3

Manufacturing

13

11

Warehouse

18

18

46

42

2024

2023

£

£

Directors' remuneration

20,400

20,400

Directors' pension contributions to money purchase schemes

19,996

19,996

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

2

2

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024

2023

£

£

Hire of plant and machinery

8,897

5,863

Depreciation - owned assets

42,762

45,748

Auditors' remuneration

17,315

16,335

Foreign exchange (gains)/losses

34,340

(97,643

)

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank loan interest

37,700

50,822

Interest on overdue tax

3,747

-

Other interest paid

-

23

41,447

50,845

7.

TAXATION

Analysis of the tax charge

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

2024

2023

£

£

Current tax:

UK corporation tax

44,364

-

Deferred tax

3,276

21,952

Tax on profit

47,640

21,952

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:

2024

2023

£

£

Profit before tax

178,156

645,241

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

44,539

161,310

Effects of:

Expenses not deductible for tax purposes

3,690

450

Depreciation in excess of capital allowances

8,389

11,408

Utilisation of tax losses

(11,227

)

(173,168

)

Deferred tax movement

3,276

21,952

Marginal relief

(1,027

)

-

Total tax charge

47,640

21,952

8.

DIVIDENDS

2024

2023

£

£

Ordinary shares of £1 each

Interim

60,000

60,000

9.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

325,000

AMORTISATION

At 1 January 2024

and 31 December 2024

325,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

10.	PROPERTY, PLANT AND EQUIPMENT

Office

Equipment

& Furniture

Short

Leasehold

Plant and

and

leasehold

Improvements

machinery

Fittings

Totals

£

£

£

£

£

COST

At 1 January 2024

29,894

76,058

287,309

109,920

503,181

Additions

-

5,790

2,662

755

9,207

At 31 December 2024

29,894

81,848

289,971

110,675

512,388

DEPRECIATION

At 1 January 2024

16,935

33,915

182,373

96,950

330,173

Charge for year

6,383

4,793

24,149

7,437

42,762

At 31 December 2024

23,318

38,708

206,522

104,387

372,935

NET BOOK VALUE

At 31 December 2024

6,576

43,140

83,449

6,288

139,453

At 31 December 2023

12,959

42,143

104,936

12,970

173,008

11.	INVENTORIES

2024

2023

£

£

Stocks

5,926,145

6,360,829

12.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,871,075

2,190,230

Payments made on account

-

12,008

Prepayments

176,957

183,912

2,048,032

2,386,150

Trade debtors are subject to invoice financing. Where applicable, funds advanced for invoice financing are recorded as payments received on account within creditors.