REGISTERED NUMBER: 06723673 (England and Wales)

Orean Personal Care Limited

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements

For The Year Ended 31 December 2024

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

D M Williams

M Crossley

REGISTERED OFFICE:

Unit E1

Stubs Beck Lane

West 26 Industrial Estate

Cleckheaton

South Yorkshire

BD19 4TT

REGISTERED NUMBER:

06723673 (England and Wales)

AUDITORS:

Roddis Taylor Robinson

Chartered Accountants

Statutory Auditor

Unit 6, Acorn Business Park

Woodseats Close

Sheffield

South Yorkshire

S8 0TB

The directors present their strategic report of the company and the group for the year ended 31 December 2024.

REVIEW OF BUSINESS

Orean Personal Care Limited and its wholly owned subsidiary, Orean Beauty Inc area contract manufacturers of cosmetic and haircare products.

Despite a strong order book throughout the year of 2024, the last quarter proved very challenging as many brands pushed orders out into 2025, due to cashflow challenges and stock holding levels. A similar pattern to what was seen in 2023. Due to the level of customers that supply their own packaging, there was little that could be done to convert the sales orders into stock for sale. As a business the group continues to discuss and work through creative solution with its brand partners to ensure that there are solutions that work for both parties. This is testament to the strength of the partnerships that the group has with its customers.

One of the biggest challenges faced in 2024 was cashflow. This was largely driven by one brand partner who, at its peak was £3million overdue. All group suppliers were phenomenally supportive, and this issue was resolved by the end of the year. Again, the strength of the groups relationships was evident here and the group maintained dialogue between all parties.

The volatility of the supply chain continued to make planning challenging, and the group continues to remain as flexible as possible, ensuring it can maximise monthly sales and ensure that it reacts to customers' demands as efficiently as it can.

Another challenge during 2024 arose from a significant brand that the group had manufactured for more than 12 years being bought by another manufacturer. The group therefore spent the year phasing the move of orders to this manufacturer.

Despite these challenges, the sales in the UK increased 20% on 2023 with similar growth in the US.

The group continues to invest and support the US site with its indirect functions in the UK. This allows the group to support its UK partners with growth in this market, navigating tariff challenges, reducing leadtimes and freight costs and exposing them to new opportunities. The group is now starting to work with established and US native brands.

The future strategy is to continue this growth throughout 2025 in both the UK and US sites, with established brands in both markets approaching the group for both new business and the transfer of existing products.

The group continues to be open with its strategy and share its ambitions with staff members, brand partners and suppliers. This is well received and is very much reflective of their own ambition.

The group continues to focus on making full-service projects more appealing to customers which in turn will provide the group with greater control of its production plan, however, this will consume more cash up front.

PRINCIPAL RISKS AND UNCERTAINTIES

Supply Chain challenges continue to be an issue and over several years as the group has been impacted by cost of living crisis, a pandemic, war in Europe, the Suez Canal challenge and Brexit amongst other things

The group held firm with the strategic decision to not pass on cost increases to customers. This decision was not made lightly; however, it was made at board level in order to protect existing business and ensure brands could continue to flourish and avoid potential delists with retailers. Management continue to review options to mitigate increases where possible through purchasing and operational efficiencies.

Due to the volume of sales that were pushed backed, the group's earnings suffered as overheads were tracking at a level that would support a greater level of budgeted sales. The purchase orders were received, however demand was delayed.

This affected both the group's stock holding and gross margin, but management are confident that this will start to readjust itself in the next couple of years.

STREAMLINED ENERGY AND CARBON REPORTING

In line with the Companies (Directors' Report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018 the company's energy use and greenhouse gas(GHG) emissions are set out below.

The data relates to UK emissions for the 12 month period from 1 January 2024 to 31 December 2024.

Orean Personal Care Limited Energy Use and Associated Greenhouse Gas Emissions

YE 2024

YE 2023

Total Energy consumption (kWh)

1,500,104

1,153,124

Emissions from combustion of gas (Scope 1) (tCO2e)

103

73

Emissions from transport (Scope 1) (tCO2e)

9

9

Emissions from purchased electricity (Scope 2) (tCO2e)

149

111

Emissions from business travel in employee-owned vehicles where the company's responsible for purchasing the fuel or electricity (Scope 3) (tCO2e)

7

N/A

Total Gross emissions (tCO2e)

268

193

tCO2e per £m turnover

9

8

Renewable Energy generated and then used onsite (kWh)

150,216

181,808

Emissions avoided by renewable energy generated and then used onsite (tCO2e)

31

38

Emissions avoided by purchasing renewable electricity (tCO2e)

0

24

Total annual net emissions (tCO2e)

268

169

Quantification and Reporting Methodology:

The boundaries of this report are based on operational control. The company reports it emissions with reference to the latest Greenhouse Gas Protocol Corporate Accounting and Reporting Standard (GHG Protocol). In accordance with the 2018 Regulations, the energy use and associated greenhouse gas emissions are for those within the UK only that come under the operational control boundary. Therefore, energy use and emissions are aligned with financial reporting for the UK entity and exclude the non-UK based subsidiaries that would not qualify under the 2018 Regulations in their own right. The 2024 UK Government GHG Conversion Factors for Company Reporting published by the Department for Energy Security and Net Zero are used to convert energy use in our operations to emissions of CO2e. Carbon emission factors for purchased electricity calculated according to the 'location-based grid average' method. This reflects the average emission of the grid where the energy consumption occurs. Data sources include billing, invoices and internal systems. For transport data where actual usage data (e.g. litres) was unavailable conversions were made using average fuel consumption factors to estimate the usage. Gas consumption at the Low Moor site was unavailable for Q4, as such this was estimated.

Intensity Ratio

The company has chosen to report its gross emissions against a financial metric of tCO2e per £m Turnover, in 2024 our Turnover was £30 million, therefore the ratio is 9 tCO2e/£m Turnover.

Energy Efficiency Action

Installed Solar panels on the Warehouse roof at Low Moor site, energy generated is used on-site. The company is continuing to investigate the investment in additional solar and the storage/use of the electricity generated.

Due to the location of the manufacturing site at Stubs Beck Lane and the close proximity to the M62, the solar panels had got very dirty since they were installed which resulted in a significant drop off in generation of electricity. These have now been cleaned and a cleaning plan established and put in place.

During the 2024 reporting period the company added some lagging on its production chilled water tank to reduce the amount of electricity used to power the chiller.

DEVELOPMENT AND PERFORMANCE

One of group's key objectives moving forward is to deliver the order book as smoothly as possible by planning production activities effectively. This should reduce the pressures within the business by keeping periods of extreme volume to a minimum. There's also a keen focus on health and safety, training and efficiencies.

The bespoke ERP system that is being developed, has evolved to and this will now be rolled at through the Q3/Q4 2025. This is to improve efficiencies across the business and reduce the reliance on additional employees as the group grows, to maintain overheads while maintaining the group's flexibility and unique, agile approach to manufacturing across both the UK and US sites.

The sourcing of US materials has increased dramatically and is now tracking at 65% and growing. This provides customers with reduced leadtimes and flexibility and keeps stock holding to a minimum. Despite this increase this will never be at 100% as the group will continue to maintain central purchasing in the UK to ensure that stock levels are effectively managed and cashflow relating to MOQ's of materials and ensure that the group benefits from economies of scale.

The group is now being approached by Brands in the US for production locally and in the US. This will allow the group to reduce the concentration around one key account.

KEY PERFORMANCE INDICATORS

Management continue to focus on labour as a % of revenue, stock holding both as a % of the 3 month forecast and also as a % of total order book. Management continue to ensure that cost of materials is maintained as a % of revenue while flexing where appropriate for strategic sales of lower margin products.

Debtors and Creditors are tracked monthly with a big focus on both supplier and customer relationships to ensure that we build and nurture long-term partnerships that all parties benefit from.

OTHER INFORMATION AND EXPLANATIONS

The group has an unrivalled reputation for flexibility within its industry, and it is crucial that this is preserved whilst trying to improve business processes. This has again been validated by an external consultant.

ON BEHALF OF THE BOARD:

D M Williams - Director

29 September 2025

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

DIVIDENDS

The directors do not recommend the payment of a dividend in respect of 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.

D M Williams

M Crossley

The company has provided third party indemnity insurance cover for its Directors during the year ended 31 December 2024.

EMPLOYMENT OF DISABLED PERSONS

Disabled persons are employed by the group when they are suited to a particular vacancy and every effort is made to ensure that they are given full and fair consideration when such vacancies arise. Training is offered so that employees, who have been injured or become disabled in the course of their employment, can where possible, continue their employment with the group.

ENGAGEMENT WITH EMPLOYEES

The group's focus is on maintaining existing headcount and maintaining the level of investment around training and development, sustainability solutions and social impact support.

The Directors make employees aware of employment matters and the financial and economic factors affecting the group, through one to one meetings, newsletters and video briefings. They invite feedback informally and also through a formal employee suggestion process using a token method.

The group employs a dedicated Corporate Social Responsibility Officer which helps the group focus on supporting local charities, businesses and teams and has the Investors in People accreditation.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and 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 group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

D M Williams - Director

29 September 2025

Opinion

We have audited the financial statements of Orean Personal Care Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 December 2024 and of the group's 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

-	certain disclosures of 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 five, 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent 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:

The Group is subject to laws and regulations that directly and indirectly affect the financial statements. Based on our understanding of the Group and the environment in which it operates, we determined that the laws and regulations which were most significant included Health and Safety, Environmental and the European Directive for Cosmetics. We considered the extent to which non-compliance with laws and regulations might have a material effect on the financial statements, including how fraud might occur. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to the posting of inappropriate journal entries to manipulate the Group results for the year and management bias in key accounting estimates.

Audit procedures performed by the engagement team included:

-

Discussions with management to obtain an understanding of the legal and regulatory framework applicable to the group and how it ensures compliance, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

-

Reviewing minutes of Board meetings;

-

Identifying and assessing the effectiveness of internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;

-

Enquiring of management as to actual and potential litigation and claims and reviewing legal and professional fees;

-

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

-

Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations or posted by senior management.

There are inherent limitations in the audit procedures described above and the more removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation or through collusion.

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.

Julie Holderness (Senior Statutory Auditor)

for and on behalf of Roddis Taylor Robinson

Chartered Accountants

Statutory Auditor

Unit 6, Acorn Business Park

Woodseats Close

Sheffield

South Yorkshire

S8 0TB

29 September 2025

TURNOVER

3

35,807,705

28,693,207

Cost of sales

(31,265,313

)

(25,086,917

)

GROSS PROFIT

4,542,392

3,606,290

Administrative expenses

(5,285,253

)

(4,546,525

)

(742,861

)

(940,235

)

Other operating income

290,754

254,142

OPERATING LOSS

5

(452,107

)

(686,093

)

Interest receivable and similar income

-

4,679

(452,107

)

(681,414

)

Interest payable and similar expenses

6

(464,266

)

(314,451

)

LOSS BEFORE TAXATION

(916,373

)

(995,865

)

Tax on loss

7

300,008

543,727

LOSS FOR THE FINANCIAL YEAR

(616,365

)

(452,138

)

Loss attributable to:

Owners of the parent

(616,365

)

(452,138

)

LOSS FOR THE YEAR

(616,365

)

(452,138

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(616,365

)

(452,138

)

Total comprehensive income attributable to:

Owners of the parent

(616,365

)

(452,138

)

FIXED ASSETS

Intangible assets

9

197,806

232,206

Tangible assets

10

3,669,955

3,869,963

Investments

11

-

-

3,867,761

4,102,169

CURRENT ASSETS

Stocks

12

5,107,147

4,710,051

Debtors

13

8,284,085

8,001,384

Cash at bank and in hand

390,992

250,484

13,782,224

12,961,919

CREDITORS

Amounts falling due within one year

14

10,000,104

8,787,133

NET CURRENT ASSETS

3,782,120

4,174,786

TOTAL ASSETS LESS CURRENT LIABILITIES

7,649,881

8,276,955

CREDITORS

Amounts falling due after more than one year

15

228,820

239,529

NET ASSETS

7,421,061

8,037,426

CAPITAL AND RESERVES

Called up share capital

20

1,193

1,193

Share premium

444,485

444,485

Capital redemption reserve

1,142

1,142

Retained earnings

6,974,241

7,590,606

SHAREHOLDERS' FUNDS

7,421,061

8,037,426

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:

D M Williams - Director

FIXED ASSETS

Intangible assets

9

-

-

Tangible assets

10

2,029,011

2,202,122

Investments

11

420,028

420,028

2,449,039

2,622,150

CURRENT ASSETS

Stocks

12

3,520,421

3,742,965

Debtors

13

10,059,714

9,546,224

Cash at bank and in hand

138,089

106,817

13,718,224

13,396,006

CREDITORS

Amounts falling due within one year

14

7,416,746

7,445,279

NET CURRENT ASSETS

6,301,478

5,950,727

TOTAL ASSETS LESS CURRENT LIABILITIES

8,750,517

8,572,877

CREDITORS

Amounts falling due after more than one year

15

(228,820

)

(67,951

)

PROVISIONS FOR LIABILITIES

19

-

(30,071

)

NET ASSETS

8,521,697

8,474,855

CAPITAL AND RESERVES

Called up share capital

20

1,193

1,193

Share premium

444,485

444,485

Capital redemption reserve

1,142

1,142

Retained earnings

8,074,877

8,028,035

SHAREHOLDERS' FUNDS

8,521,697

8,474,855

Company's profit/(loss) for the financial year

46,842

(479,144

)

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:

D M Williams - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

1,193

8,042,744

444,485

1,142

8,489,564

Changes in equity

Total comprehensive income

-

(452,138

)

-

-

(452,138

)

Balance at 31 December 2023

1,193

7,590,606

444,485

1,142

8,037,426

Changes in equity

Total comprehensive income

-

(616,365

)

-

-

(616,365

)

Balance at 31 December 2024

1,193

6,974,241

444,485

1,142

7,421,061

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

1,193

8,507,179

444,485

1,142

8,953,999

Changes in equity

Total comprehensive income

-

(479,144

)

-

-

(479,144

)

Balance at 31 December 2023

1,193

8,028,035

444,485

1,142

8,474,855

Changes in equity

Total comprehensive income

-

46,842

-

-

46,842

Balance at 31 December 2024

1,193

8,074,877

444,485

1,142

8,521,697

Cash flows from operating activities

Cash generated from operations

1

480,658

2,855,527

Interest paid

(464,266

)

(314,451

)

Tax paid

(6,135

)

(160,200

)

Exchange differences

1,950

56,058

Net cash from operating activities

12,207

2,436,934

Cash flows from investing activities

Purchase of tangible fixed assets

(937,113

)

(1,027,191

)

Sale of tangible fixed assets

-

25,000

Interest received

-

4,679

Net cash from investing activities

(937,113

)

(997,512

)

Cash flows from financing activities

New loans in year net of repayments

796,725

-

Loan repayments in year

-

(1,588,875

)

New finance leases net of repayments

268,689

(8,799

)

Net cash from financing activities

1,065,414

(1,597,674

)

Increase/(decrease) in cash and cash equivalents

140,508

(158,252

)

Cash and cash equivalents at beginning of year

2

250,484

408,736

Cash and cash equivalents at end of year

2

390,992

250,484

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

2024

2023

£

£

Loss before taxation

(916,373

)

(995,865

)

Depreciation charges

1,169,571

1,061,315

Profit on disposal of fixed assets

-

(25,000

)

Government grants

(9,807

)

(10,774

)

Finance costs

464,266

314,451

Finance income

-

(4,679

)

707,657

339,448

(Increase)/decrease in stocks

(397,096

)

222,233

Decrease in trade and other debtors

37,398

3,110,232

Increase/(decrease) in trade and other creditors

132,699

(816,386

)

Cash generated from operations

480,658

2,855,527

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

390,992

250,484

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

250,484

408,736

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank and in hand

250,484

140,508

390,992

250,484

140,508

390,992

Debt

Finance leases

-

(268,689

)

(268,689

)

Debts falling due within 1 year

(711,023

)

(1,017,247

)

(1,728,270

)

Debts falling due after 1 year

(220,522

)

220,522

-

(931,545

)

(1,065,414

)

(1,996,959

)

Total

(681,061

)

(924,906

)

(1,605,967

)