REGISTERED NUMBER: 08711597 (England and Wales)

TRIGON SNACKS TRADING 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

4

Independent auditors' report

5

Statement of comprehensive income

8

Balance sheet

9

Statement of changes in equity

10

Notes to the financial statements

11

DIRECTORS:

L T Pagarani

L Pagarani

REGISTERED OFFICE:

Atherton Road

Aintree

Liverpool

L9 7AQ

REGISTERED NUMBER:

08711597 (England and Wales)

AUDITORS:

Berringers LLP

Chartered Accountants

and Statutory Auditors

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

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

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS

On 18 December 2020 T Choithram & Sons (London) Ltd donated 90% of the shares of Trigon Snacks Trading Limited, to a related charity Human Capability Foundation. The donation resulted in Human Capability Foundation owning 100% of the shares in Trigon Snacks Trading limited.

The directors report a loss on ordinary activities before taxation of £891,951 (2023: £707,285). Operating loss before interest was £611,934 (2023: £627,404). Shareholders funds at the balance sheet date stood at negative £62,185 (2023: £829,766).

Management of overheads proved difficult during the period, influenced heavily by circumstances outside of the business' control such as utilities costs. Raw material and packaging costs were controlled by regularly monitoring processing yields and diversifying suppliers. The customer base was increasingly diversified, and relationships with key customers have been further strengthened to offer growth opportunities for the company. This led to an increase in turnover. The replacement of older packing and processing machines with newer models led to increased labour efficiency. However, in the general inflationary environment it was not possible to pass on all the raw material, energy and labour cost increases to customers, which put downward pressure on gross margins throughout 2024.

Looking into 2025, reducing the company's overhead cost base will present a challenge for the business and every avenue should be considered to keep costs at a minimum whilst maintaining operations at the level required to satisfy demand.

Key performance indicators are turnover and variance analysis, margins and product mix. Non-financial indicators are also used including product availability, credit note levels and service levels, labour and overhead costs as a proportion of product produced to measure business performance in meeting the needs of our customers.

The directors consider the results for the period to be below expectation for the business, albeit an improvement on the prior year. The directors expect a significant improvement for the trading year in 2024, despite the continuing difficult trading conditions in the food industry.

The directors have fostered a working environment where employees have multiple formal and informal avenues for engagement with senior management. The skills base has been developed through a combination of training, internal promotion and external recruitment. Staff turnover rates are monitored.

The company is investing in more sustainable packaging material technologies. The company has also invested in new processing capabilities, which will widen the range of products it can supply.

The company has focused on deepening relationships with major customers, as well as in expanding the customer base. Additional suppliers have been introduced to extend the product range and provide robust supply chains.

PRINCIPAL RISKS AND UNCERTAINTIES

The company operates in a sophisticated market and its performance is related to world harvests. It manages this risk by diversified sourcing. It manages the risk of losing key customers by nurturing relationships and providing an enhanced responsive service.

The main financial risks arising from the company's activities are credit risk, interest rate risk, currency risk and liquidity risk. These are monitored by the board of directors.

The company's policy in respect of credit risk is to require appropriate credit checks on new customers before sales are made. The information from these credit ratings is then factored into future dealings with the customers, and accounts are monitored periodically throughout the year to assess the effectiveness of credit limits and any exposure that the company will look to limit.

The company's policy in respect of interest rate and liquidity risk is to maintain a mixture of long term and short-term debt finance and readily accessible bank deposit accounts to ensure that the group has sufficient funds for operations.

The company's policy in respect of currency risk is to forward purchase currency to settle trading transactions and thereby minimise any exchange rate exposure.

SECTION 172(1) STATEMENT

The directors have considered the requirements to section 172(1) and their duty to promote the company in this report, as referenced in the detailed review of the business.

ON BEHALF OF THE BOARD:

L Pagarani - Director

28 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 manufacture, distribution and sale of foodstuffs. There have been no changes in the company's activities in the year under review.

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.

L T Pagarani

L Pagarani

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report and 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.

ON BEHALF OF THE BOARD:

L Pagarani - Director

28 September 2025

Opinion

We have audited the financial statements of Trigon Snacks Trading Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of comprehensive income, Balance sheet, Statement of changes in equity and Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 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 Auditors' report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic report and the 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 an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and error, we considered the following:

- the nature of the industry, control environment and business performance;

- results of our enquiries to management about their own assessment of the risks of fraud and error;

- the matters discussed among the audit engagement team regarding how and where fraud may occur in the financial statements and any potential indicators of fraud.

Our procedures to respond to risk include the following:

- reviewing the financial statement disclosures and testing to supporting documentation;

- performing analytical procedures to identify any unusual or unexpected areas that may indicate risks of material misstatement due to fraud or error;

- addressing the risk of fraud and error through management override of controls, testing the appropriateness of journals, assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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

Use of our report

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

Paul Allan BSocSc FCA (Senior Statutory Auditor)

for and on behalf of Berringers LLP

Chartered Accountants

and Statutory Auditors

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

28 September 2025

TURNOVER

3

23,270,015

25,934,761

Cost of sales

21,947,452

24,530,407

GROSS PROFIT

1,322,563

1,404,354

Distribution costs

835,025

970,048

Administrative expenses

1,099,472

1,061,710

1,934,497

2,031,758

OPERATING LOSS

5

(611,934

)

(627,404

)

Interest payable and similar expenses

6

280,017

73,881

LOSS BEFORE TAXATION

(891,951

)

(701,285

)

Tax on loss

7

-

-

LOSS FOR THE FINANCIAL YEAR

(891,951

)

(701,285

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(891,951

)

(701,285

)

FIXED ASSETS

Tangible assets

9

1,937,911

2,080,012

CURRENT ASSETS

Stocks

10

4,152,710

2,509,879

Debtors

11

5,805,668

6,250,543

Cash at bank

104,252

1,379,928

10,062,630

10,140,350

CREDITORS

Amounts falling due within one year

12

7,397,220

10,321,406

NET CURRENT ASSETS/(LIABILITIES)

2,665,410

(181,056

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,603,321

1,898,956

CREDITORS

Amounts falling due after more than one year

13

4,665,506

1,069,190

NET (LIABILITIES)/ASSETS

(62,185

)

829,766

CAPITAL AND RESERVES

Called up share capital

17

2,290,001

2,290,001

Retained earnings

18

(2,352,186

)

(1,460,235

)

SHAREHOLDERS' FUNDS

(62,185

)

829,766

The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2025 and were signed on its behalf by:

L Pagarani - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

2,290,001

(758,950

)

1,531,051

Changes in equity

Total comprehensive income

-

(701,285

)

(701,285

)

Balance at 31 December 2023

2,290,001

(1,460,235

)

829,766

Changes in equity

Total comprehensive income

-

(891,951

)

(891,951

)

Balance at 31 December 2024

2,290,001

(2,352,186

)

(62,185

)

1.	STATUTORY INFORMATION

Trigon Snacks Trading 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

Going concern

The directors have reviewed the performance of the Company during the year as set out in these accounts and, after taking account of possible changes that can reasonably be envisaged in trading performance, have considered the cash flow forecasts and future liquidity requirements of the Company.

Having regard to the above and after making enquiries the directors have a reasonable expectation that the

Company has adequate resources, and support from the group and associated companies, to continue in operational existence for at least 12 months from the date of signing the accounts. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

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

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates.

The directors have made assumptions regarding the recoverability of trade debtors and have provided accordingly.

Stock valuation is reviewed at the end of the year, and key assumptions are made in relation to net realisable values and obsolete or slow-moving stocks. Where necessary the directors include a provision against the stock value.

The directors consider the useful economic life of fixed assets and estimate depreciation accordingly. Depreciation rates are noted in the accounting policies and the depreciation totals for the year are included in note 9.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is derived from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods are transferred to the buyer, the price is fixed or determinable and the collection of the amount due is reasonably assured.

Tangible fixed assets

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

Plant and machinery

-

15 - 25% on net book value

Fixtures and fittings

-

15 - 25% on net book value

Office equipment

-

25% of the net book value

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

The directors have reviewed the carrying value of the tangible fixed assets and no impairment is deemed necessary.

Stocks

Stocks are valued at the lower of cost and net realisable value. Cost is calculated as follows:-

Raw materials - Cost of purchase on first in, first out basis.

Work in progress and finished goods - Cost of raw materials and labour together with attributable overheads.

Net realisable value is based on estimated selling price less further costs to completion and disposal.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when

applicable, are shown within borrowings in current liabilities.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

The company provides for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

Derivative financial instruments

Derivative financial instruments are recognised at fair value using a valuation technique with any gains or losses being reported in profit or loss. Outstanding derivatives at reporting date are included under the appropriate format heading depending on the nature of the derivative.

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 recognised when income or expenses from a subsidiary or associate have been recognised, and will be assessed for tax in a future period, except where:

- the group is able to control the reversal of the timing difference; and

- it is probable that the timing difference will not reverse in the foreseeable future.

A deferred tax liability or asset is recognised for the additional tax that will be paid or avoided in respect of assets and liabilities that are recognised in a business combination. The amount attributed to goodwill is adjusted by the amount of deferred tax recognised.

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 company has a legally enforceable right to set off current tax assets against current tax liabilities, and

- 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

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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 in the period in which they arise.

Functional currency and presentation currency

The financial statements are presented in sterling (£), the currency of the primary economic environment in which the company operates (its functional currency).

Related undertakings

The term related undertakings has been used in these financial statements to refer to companies which are controlled by the majority shareholders of the group but in which the company has no direct holding or interest.

Pensions

Contributions to the company's defined contribution scheme are charged to the profit and loss account in the year in which they become payable.

Finance costs

All finance costs are recognised in profit or loss in the period in which they are incurred.

3.

TURNOVER

The turnover and loss before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024

2023

£

£

United Kingdom

22,720,464

24,648,472

Europe

549,551

1,286,289

23,270,015

25,934,761

The total turnover for both the current and previous period related to the sale of goods.

4.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Staff costs consists of:

Wages and salaries

3,496,773

3,431,152

Social security costs

293,506

275,139

Other pension costs

100,156

101,697

3,890,435

3,807,988

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

2024

2023

Production

114

118

Warehouse

7

7

Sales and administration

23

27

144

152

During the year the directors received remuneration of £nil (2023: £nil).

2024

2023

£

£

Directors' remuneration

-

-

5.	OPERATING LOSS

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

2024

2023

£

£

Depreciation - owned assets

328,011

344,896

Profit on disposal of fixed assets

(10,000

)

-

Auditors remuneration - audit services

10,500

9,500

Auditors remuneration - non-audit services

10,500

9,500

Operating lease rentals - plant & machinery

382

382

Stock recognised as an expense

19,299,066

21,998,681

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Other loan interest

280,017

73,881

7.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023.

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

£

£

Loss before tax

(891,951

)

(701,285

)

Loss multiplied by the standard rate of corporation tax in the UK of 19% (2023 - 19%)

(169,471

)

(133,244

)

Effects of:

Capital allowances in excess of depreciation

(1,149

)

(15,710

)

Tax losses carried forward

170,620

148,954

Total tax charge

-

-

8.	FOREIGN EXCHANGE TRANSACTIONS

Due to the nature of the industry, the majority of the company's supplies are imported from abroad and the company is therefore exposed to fluctuations in foreign currencies. During the year the company made a foreign exchange loss of £38,257 (2023: £26,718) on the purchase of imported ingredients from abroad and export sales. The exchange loss has been posted against purchases during 2024.

9.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

4,184,183

354,065

16,495

144,743

4,699,486

Additions

175,634

2,036

-

8,240

185,910

Disposals

-

-

(16,495

)

-

(16,495

)

At 31 December 2024

4,359,817

356,101

-

152,983

4,868,901

DEPRECIATION

At 1 January 2024

2,280,592

219,721

13,743

105,418

2,619,474

Charge for year

293,896

20,457

2,752

10,906

328,011

Eliminated on disposal

-

-

(16,495

)

-

(16,495

)

At 31 December 2024

2,574,488

240,178

-

116,324

2,930,990

NET BOOK VALUE

At 31 December 2024

1,785,329

115,923

-

36,659

1,937,911

At 31 December 2023

1,903,591

134,344

2,752

39,325

2,080,012

10.

STOCKS

2024

2023

£

£

Raw materials

3,136,570

2,192,605

Finished goods

1,016,140

317,274

4,152,710

2,509,879

Stock movement is expensed to cost of sales. During the year there were no material impairment adjustments included in the profit and loss account in relation to obsolete or slow-moving stock.

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

5,575,032

6,112,509

Prepayments

230,636

138,034

5,805,668

6,250,543

An impairment loss of £7,000 (2023: £7,000) was recognised against trade debtors.

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 14)

865,553

-

Trade creditors

655,569

444,259

Social security and other taxes

60,400

62,997

VAT

594,231

662,285

Other creditors

5,123,451

9,000,921

Accrued expenses

98,016

150,944

7,397,220

10,321,406

13.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amount owed to parent company

4,665,506

1,069,190

14.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

865,553

-

Bank loans and overdrafts of the company and group were secured by intra-group cross guarantees.

15.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

205,287

205,382

Between one and five years

820,000

820,287

In more than five years

358,750

563,750

1,384,037

1,589,419

16.	SECURED DEBTS

As at the balance sheet date the bank holds a debenture and fixed and over the assets of the company in respect of all present and future loans and facilities the bank has granted.

17.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2,290,001

Ordinary

£1.00

2,290,001

2,290,001