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REGISTERED NUMBER: 03780024 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

Hammonds Of Knutsford Plc

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Income Statement | 10 |

| Other Comprehensive Income | 11 |

| Balance Sheet | 12 |

| Statement of Changes in Equity | 13 |

| Cash Flow Statement | 14 |

| Notes to the Cash Flow Statement | 15 |

| Notes to the Financial Statements | 17 |

| Hammonds Of Knutsford Plc |

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | J Hammond

| Mrs S L H Hammond

| SECRETARY: | J Hammond

| REGISTERED OFFICE: | Warford Grange Farm

| Pedley House Lane, Great Warford

| Knutsford

| Cheshire

| WA16 7SP

| REGISTERED NUMBER: | 03780024 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Philip Harrison

| AUDITORS: | Xeinadin Audit Limited

| 116 Duke Street

| Liverpool

| Merseyside

| L1 5JW

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Strategic Report

for the Year Ended 31 March 2025

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

The principal activity of the company in the year under review was that of wholesalers of beer, wine and spirits.

REVIEW OF BUSINESS

During the year turnover was £37,665,068(2024 - £36,8733,112) and the gross profit generated was £4,969,212 (2024 - £5,927,060).

The directors will continue to expand the product range and customer base across the UK by attracting high calibre sales staff to add to the current team. The company aims to build long term relationships with customers, and the business model is not reliant on one particular sector or group of customers.

The company's cash position continues to be satisfactory so it is not vulnerable to interest rate movements and it also enables the group to take advantage of any opportunities to purchase stock that is available at special prices, which in the current economic climate puts the group in a strong position.

The company will continue to sustain a healthy margin that will fund organic growth and if necessary cover any unforeseen circumstances that may arise in the years to come.

Key performance indicators

| 2025 |  | 2024 |

Gross profit margin |  | 13.19% |  | 16.09% |

Operating profit before tax |  | 3,043,646 |  | 4,137,705 |

R.O.C.E |  | 32.64% |  | 29.14% |

Net Current Assets |  | 9,324,357 |  | 14,199,206 |

The retained profit for the year is £1,987,616 before paying out a dividend of £5,000,000 (2024 - £2,931,937), which the directors consider as adequate to fund the future growth of the business and cover any unforeseen circumstances in the next twelve months. The reserves have decreased to £11,971,472 after the dividend (2024 - £14,983,856) and cash balances were £916,289 (2024 - £5,619,582).

PRINCIPAL RISKS AND UNCERTAINTIES

Credit risk

The company mitigates external credit risk by selling to a large and varied customer base. In addition, when appropriate, the company undertakes credit checks and reviews references. The company also has a robust credit control policy and will not supply to customers in default of agreed terms. The company is a member of the credit protection association.

Employee relations and involvement

The company is committed to the principle of employee involvement and keeps staff informed of all progress and development, and consequently has a very low turnover of staff.

The company's financial instruments consist of investments in publicly traded entities, items arising directly from operations such as trade debtors and trade creditors, and other debtors and creditors . The main risks arising from these financial instruments are the liquidity risk. These are managed and any necessary impairment reflected in these financial statements.

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Strategic Report

for the Year Ended 31 March 2025

SECTION 172(1) STATEMENT

This section of the strategic report describes how the director has had regards to the matters set out in section 172 (1) (a) to (f) and forms the director's statements required under section 414CZA of the Companies Act 2006.

The director understands that the group's relationships with its stakeholders are dynamic, and that stakeholders' interests may change over time. In response to this, the director keeps himself informed of the group's key stakeholders' interests through a combination of both direct and indirect engagement. The director always recognises his responsibility to the group's stakeholders when discharging his duties.

The Director has identified the key stakeholders' suppliers, customers, and employees.

SUPPLIERS

The director recognises that supplier involvement is central to the quality of the group's service and to ensure that as a business we meet the high standards of conduct that we set for ourselves. The group continues to build strong relationships with its key suppliers and continually monitor supplier payment days. The group has a clear process for selecting and managing its suppliers. For key suppliers we perform due diligence around their working practices and code of ethics as well as their financial viability.

CUSTOMERS

The director understands that what's important to customers is key to our long-term success. We continue to build strong relationships with our customers. The group has a clear process for selecting and managing its

customers. For all customers we perform due diligence and code of ethics as well as their financial stability and viability

EMPLOYEES

The director recognises that the importance of a highly engaged and motivated workforce is fundamental and core to our business and to the delivery of our strategic ambitions.

RESEARCH AND DEVELOPMENT

The company has been engaged in research and development activities to improve their stock and accounting software. The directors believe strongly that this will enhance the company's capabilities.

ASSESSMENT OF PROSPECTS AND VIABILITY

Based on the director's assessment of prospects and viability, the directors confirm that they have a reasonable expectation that the company will be able to continue in operation and meet its liabilities.

FUTURE DEVELOPMENTS

In the following year the company expects to invest further in the development of their bespoke stock and accounting software, which will potentially improve accuracy and efficiency.

ON BEHALF OF THE BOARD:

J Hammond - Director

30 September 2025

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Report of the Directors

for the Year Ended 31 March 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

An interim dividend of £133.25 per share was paid on 31 March 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2025 will be £ 5,000,000 .

DIRECTORS

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

J Hammond

Mrs S L H Hammond

DISCLOSURE IN THE STRATEGIC REPORT

The strategic report contains information on future developments, financial risk and exposure and research and development activities.

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

- | select suitable accounting policies and then apply them consistently;

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

- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Report of the Directors

for the Year Ended 31 March 2025

AUDITORS

The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J Hammond - Director

30 September 2025

Report of the Independent Auditors to the Members of

Hammonds Of Knutsford Plc

Opinion

We have audited the financial statements of Hammonds Of Knutsford Plc (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 31 March 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the 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.

Report of the Independent Auditors to the Members of

Hammonds Of Knutsford Plc

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.

Report of the Independent Auditors to the Members of

Hammonds Of Knutsford Plc

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:

Identifying and Assessing Potential Risks Related to Irregularities

Enquiring of management, including obtaining and reviewing supporting documentation concerning the company's policies and procedures relating to:

Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud

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

discussing among the engagement team including relevant internal specialists, including tax, valuations, pensions and IT regarding how and where fraud might occur in the financial statements and any potential indicators of fraud

obtaining an understanding of the legal and regulatory framework that the company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the company. The key laws and regulations we considered in this context included the Companies Act 2006, Pension legislation, Tax legislation, and Health and Safety requirements.

Audit Response to Risks Identified

In addition to the above, our procedures to respond to risks identified included the following:

reviewing the Financial Statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations discussed above;

enquiring of management concerning actual and potential litigation and claims;

performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and

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

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

Report of the Independent Auditors to the Members of

Hammonds Of Knutsford Plc

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.

Philip Harrison (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

116 Duke Street

Liverpool

Merseyside

L1 5JW

30 September 2025

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Income Statement

for the Year Ended 31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

TURNOVER | 37,665,068 |  | 36,833,112 |  |

Cost of sales | 32,695,856 |  | 30,906,052 |  |

GROSS PROFIT | 4,969,212 |  | 5,927,060 |  |

Administrative expenses | 2,102,418 |  | 2,006,587 |  |

2,866,794 |  | 3,920,473 |  |

Other operating income | 176,852 |  | 217,232 |  |

OPERATING PROFIT | 4 | 3,043,646 |  | 4,137,705 |  |

Income from fixed asset investments | 21,630 |  | 82,929 |  |

Interest receivable and similar income | 249,020 |  | 102,087 |  |

|  |  | 270,650 |  |  |  |  | 185,016 |  |

3,314,296 |  | 4,322,721 |  |

Gain/loss on revaluation of investments | (10,722 | ) | 90,649 |  |

3,303,574 |  | 4,413,370 |  |

Interest payable and similar expenses | 5 | 19,065 |  | 81,436 |  |

PROFIT BEFORE TAXATION | 3,284,509 |  | 4,331,934 |  |

Tax on profit | 6 | 1,296,893 |  | 1,399,997 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,987,616 |  | 2,931,937 |  |

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Other Comprehensive Income

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,987,616 |  | 2,931,937 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,987,616 |  | 2,931,937 |  |

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 3,157,854 |  | 933,676 |  |

Investments | 9 | 1 |  | 1 |  |

Investment property | 10 | 99,003 |  | 99,003 |  |

3,256,858 |  | 1,032,680 |  |

CURRENT ASSETS

Stocks | 11 | 4,849,721 |  | 5,731,606 |  |

Debtors | 12 | 12,199,012 |  | 13,072,991 |  |

Investments | 13 | 2,273,488 |  | 1,770,125 |  |

Cash at bank and in hand | 916,289 |  | 5,619,582 |  |

20,238,510 |  | 26,194,304 |  |

CREDITORS

Amounts falling due within one year | 14 | 10,827,445 |  | 11,995,097 |  |

NET CURRENT ASSETS | 9,411,065 |  | 14,199,207 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 12,667,923 |  | 15,231,887 |  |

PROVISIONS FOR LIABILITIES | 16 | 696,451 |  | 248,031 |  |

NET ASSETS | 11,971,472 |  | 14,983,856 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 37,524 |  | 37,524 |  |

Capital redemption reserve | 18 | 12,476 |  | 12,476 |  |

Retained earnings | 18 | 11,921,472 |  | 14,933,856 |  |

SHAREHOLDERS' FUNDS | 11,971,472 |  | 14,983,856 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

J Hammond - Director

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Statement of Changes in Equity

for the Year Ended 31 March 2025

| Called up |  | Capital |

| share |  | Retained |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 April 2023 | 37,524 |  | 12,001,919 |  | 12,476 |  | 12,051,919 |  |

Changes in equity

Total comprehensive income | - |  | 2,931,937 |  | - |  | 2,931,937 |  |

Balance at 31 March 2024 | 37,524 |  | 14,933,856 |  | 12,476 |  | 14,983,856 |  |

Changes in equity

Dividends | - |  | (5,000,000 | ) | - |  | (5,000,000 | ) |

Total comprehensive income | - |  | 1,987,616 |  | - |  | 1,987,616 |  |

Balance at 31 March 2025 | 37,524 |  | 11,921,472 |  | 12,476 |  | 11,971,472 |  |

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Cash Flow Statement

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | (2,588,151 | ) | 5,568,092 |  |

Interest paid | (19,065 | ) | (81,436 | ) |

Tax paid | (1,358,510 | ) | 298,895 |  |

Taxation refund | - |  | (842,667 | ) |

Net cash from operating activities | (3,965,726 | ) | 4,942,884 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (2,419,792 | ) | (316,683 | ) |

Purchase of investment property | - |  | (99,003 | ) |

Sale of tangible fixed assets | 7,143 |  | 65,580 |  |

Purchase of current asset investments | (514,085 | ) | (560,739 | ) |

Disposal of current asset investments | - |  | 8,503,815 |  |

Interest received | 249,020 |  | 102,087 |  |

Dividends received | 21,630 |  | 82,929 |  |

Net cash from investing activities | (2,656,084 | ) | 7,777,986 |  |

Cash flows from financing activities

Group undertakings | 457,552 |  | (11,388,373 | ) |

Amount introduced by directors | 8,372,230 |  | 2,358,349 |  |

Amount withdrawn by directors | (1,906,126 | ) | (46,100 | ) |

Equity dividends paid | (5,000,000 | ) | - |  |

Net cash from financing activities | 1,923,656 |  | (9,076,124 | ) |

(Decrease)/increase in cash and cash equivalents | (4,698,154 | ) | 3,644,746 |  |

Cash and cash equivalents at beginning of year | 2 | 5,614,443 |  | 1,969,697 |  |

Cash and cash equivalents at end of year | 2 | 916,289 |  | 5,614,443 |  |

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Cash Flow Statement

for the Year Ended 31 March 2025

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before taxation | 3,284,509 |  | 4,331,934 |  |

| Depreciation charges | 188,471 |  | 183,424 |  |

| Profit on disposal of fixed assets | - |  | (12,232 | ) |

| Loss on revaluation of fixed assets | 10,722 |  | - |  |

| G/L on revaluation of current assets | - |  | (90,649 | ) |

| Finance costs | 19,065 |  | 81,436 |  |

| Finance income | (270,650 | ) | (185,016 | ) |

3,232,117 |  | 4,308,897 |  |

| Decrease in stocks | 881,885 |  | 118,398 |  |

| Decrease in trade and other debtors | 416,427 |  | 2,953,682 |  |

| Decrease in trade and other creditors | (7,118,580 | ) | (1,812,885 | ) |

| Cash generated from operations | (2,588,151 | ) | 5,568,092 |  |

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 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 916,289 |  | 5,619,582 |  |

| Bank overdrafts | - |  | (5,139 | ) |

916,289 |  | 5,614,443 |  |

| Year ended 31 March 2024

| 31.3.24 |  | 1.4.23

£ | £ |

| Cash and cash equivalents | 5,619,582 |  | 2,080,977 |  |

| Bank overdrafts | (5,139 | ) | (111,280 | ) |

5,614,443 |  | 1,969,697 |  |

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Cash Flow Statement

for the Year Ended 31 March 2025

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 5,619,582 |  | (4,703,293 | ) | 916,289 |  |

| Bank overdrafts | (5,139 | ) | 5,139 |  | - |  |

5,614,443 |  | (4,698,154 | ) | 916,289 |  |

| Liquid resources |

| Current asset investments | 1,770,125 |  | 503,363 |  | 2,273,488 |  |

1,770,125 |  | 503,363 |  | 2,273,488 |  |

| Total | 7,384,568 |  | (4,194,791 | ) | 3,189,777 |  |

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Hammonds Of Knutsford Plc is a public limited company, limited by shares, registered in England and Wales. The company's registered number is 03780024 and the registered office is Warford Grange Farm, Pedley House Lane, Great Warford, Knutsford, Cheshire WA16 7SP.

| The presentation and functional currency of the financial statements is the Pound Sterling (£).

| The principal activity of the company is that of wholesalers of beers, wines and spirits.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| There 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 other than current asset investments which are held at fair value.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Significant judgements and estimates

| In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on experience and other factors considered to be relevant. Actual results may differ from these estimates.

| The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

| Estimated useful lives and residual values of fixed assets

| As described in the accounting policies, depreciation and amortisation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised if necessary. The carrying amount of fixed assets at the end of the reporting period was £3,157,855 after a depreciation charge of £188,471.

| Impairment of slow moving and obsolete stock

| As stated in the accounting policy stock is valued at the lower of cost and net realisable value with an allowance for slow moving and obsolete stock. This allowance is reviewed annually by the directors and is based on historical sales, future orders and age of the stock. At the year end the stock provision has decreased by £379,502 to £344,318.

| Turnover

| Turnover represents net invoiced sales from the supply of beers, wines and spirits and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Income is recognised at the time the goods are despatched, delivered or collected by customers.

| Tangible fixed assets

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

| Freehold property | - | 2% on cost

| Improvements to property | - | 10% on cost

| Fixtures and fittings | - | 25% on cost

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on cost

| Fixed assets are recorded at cost less depreciation and provisions for impairment if applicable.

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks

| Inventories are stated at the lower of cost and estimated selling price less costs to sell. Inventories are recognised as an expense in the period in which the related revenue is recognised.

| Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the inventory to its present location and condition.

| At the end of each reporting period inventories are assessed for impairment. If an item of inventory is impaired, the identified inventory is reduced to its selling price less costs to complete and sell and an impairment

| charge is recognised in the profit and loss account.

| Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

| Financial instruments

| Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

| Other investments are managed listed investments. They are initially recognised at cost then subsequently held at fair value. An annual impairment review is carried out with any aggregate surplus or deficit arising being recognised in the profit and loss account.

| Trade debtors and other debtors are recognised initially at fair value and subsequently measured at amortised cost less provision for impairment. A provision for impairment in trade debtors is established when there is evidence that the company will not be able to collect all amounts due.

| Trade creditors represent outstanding invoices due to suppliers for purchases made, trade creditors are paid within the terms given by the supplier.

| Director's loans and intercompany loans (being repayable on demand), are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

| 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 balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Research and development

| Expenditure on research and development, which is made up of wages costs, is written off in the year in which it is incurred.

| 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.

| 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 profit or loss in the period to which they relate.

| Cash and cash equivalents

| Cash at bank and in hand is represented by amounts deposited at the company bank accounts, cash is available immediately on request.

| Loans and advances

| Loans and advances are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise when the company provides money directly to a customer with no intention of trading the receivable. Loans and receivables are measured at amortised cost using the effective interest method.

| Fixed asset investments

| All fixed asset investments are initially recognised at cost. An annual impairment review is carried out with any aggregate surplus or deficit arising from changes in fair value being recognised in the profit or loss.

| Current asset investments

| All current asset investments are stated at fair value, which is market value. Any changes in value of investments are written to the profit and loss account in the year it is incurred.

3. | EMPLOYEES AND DIRECTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Wages and salaries | 1,066,290 |  | 952,851 |  |

| Social security costs | 92,857 |  | 73,909 |  |

| Other pension costs | 84,713 |  | 77,795 |  |

1,243,860 |  | 1,104,555 |  |

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

| 31.3.25 |  | 31.3.24

| Directors | 2 |  | 2 |  |

| Administration | 33 |  | 33 |  |

35 |  | 35 |  |

| The company operates a defined contribution pension scheme that all employees in that company are entitled to join. The cost for the year amounted to £24,713 (2024 - £17,795). Included in other creditors at the year end is £8,606 (2024 - £4,205) relating to pension contributions unpaid at the year end.

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | EMPLOYEES AND DIRECTORS - continued

| 31.3.25 |  | 31.3.24

£ | £ |

| Directors' remuneration | 19,200 |  | 19,200 |  |

| Directors' pension contributions to money purchase schemes | 60,000 |  | 60,000 |  |

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

| Money purchase schemes | 1 |  | 1 |  |

4. | OPERATING PROFIT

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Hire of plant and machinery | 316 |  | - |  |

| Depreciation - owned assets | 188,471 |  | 183,423 |  |

| Profit on disposal of fixed assets | - |  | (12,232 | ) |

| Auditors' remuneration | 17,000 |  | 15,500 |  |

| Auditors' remuneration for non audit work | 12,570 |  | 14,925 |  |

| Taxation advisory services | 3,000 |  | 3,000 |  |

| Foreign exchange differences | (1,330 | ) | 4,831 |  |

5. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank interest | 249 |  | 4,857 |  |

| Other interest payable | 18,816 |  | 76,579 |  |

19,065 |  | 81,436 |  |

6. | TAXATION

| Analysis of the tax charge

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

| 31.3.25 |  | 31.3.24

£ | £ |

| Current tax:

| UK corporation tax | 850,191 |  | 1,022,878 |  |

| Overprovision | (1,718 | ) | - |  |

| Total current tax | 848,473 |  | 1,022,878 |  |

| Deferred tax | 448,420 |  | 377,119 |  |

| Tax on profit | 1,296,893 |  | 1,399,997 |  |

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

6. | TAXATION - continued

| 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:

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before tax | 3,284,509 |  | 4,331,934 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 821,127 |  | 1,082,984 |  |

| Effects of:

| Expenses not deductible for tax purposes | 457,852 |  | 402,482 |  |

| Income not taxable for tax purposes | (7,358 | ) | (142,184 | ) |

| Depreciation in excess of capital allowances | 33,673 |  | - |  |

| Adjustments to tax charge in respect of previous periods | (1,718 | ) | - |  |

| Gross chargeable gains | 42,397 |  | - |  |

| Gains/losses | (39,582 | ) | 56,715 |  |

| Group relief | (9,498 | ) | - |  |

| Total tax charge | 1,296,893 |  | 1,399,997 |  |

7. | DIVIDENDS

| 31.3.25 |  | 31.3.24

£ | £ |

| Interim | 5,000,000 |  | - |  |

8. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures

| Freehold |  | to |  | and

| property |  | property |  | fittings

£ | £ | £ |

| COST

| At 1 April 2024 | - |  | 1,156,770 |  | 291,528 |  |

| Additions | 2,363,088 |  | - |  | 13,696 |  |

| Disposals | - |  | - |  | (1,235 | ) |

| At 31 March 2025 | 2,363,088 |  | 1,156,770 |  | 303,989 |  |

| DEPRECIATION

| At 1 April 2024 | - |  | 348,389 |  | 255,004 |  |

| Charge for year | 16,776 |  | 106,851 |  | 36,233 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 March 2025 | 16,776 |  | 455,240 |  | 291,237 |  |

| NET BOOK VALUE

| At 31 March 2025 | 2,346,312 |  | 701,530 |  | 12,752 |  |

| At 31 March 2024 | - |  | 808,381 |  | 36,524 |  |

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

8. | TANGIBLE FIXED ASSETS - continued

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 April 2024 | 178,142 |  | 48,323 |  | 1,674,763 |  |

| Additions | 30,169 |  | 12,839 |  | 2,419,792 |  |

| Disposals | (38,655 | ) | - |  | (39,890 | ) |

| At 31 March 2025 | 169,656 |  | 61,162 |  | 4,054,665 |  |

| DEPRECIATION

| At 1 April 2024 | 89,371 |  | 48,323 |  | 741,087 |  |

| Charge for year | 28,258 |  | 353 |  | 188,471 |  |

| Eliminated on disposal | (32,747 | ) | - |  | (32,747 | ) |

| At 31 March 2025 | 84,882 |  | 48,676 |  | 896,811 |  |

| NET BOOK VALUE

| At 31 March 2025 | 84,774 |  | 12,486 |  | 3,157,854 |  |

| At 31 March 2024 | 88,771 |  | - |  | 933,676 |  |

9. | FIXED ASSET INVESTMENTS

| Investments (neither listed nor unlisted) were as follows:

| 31.3.25 |  | 31.3.24

£ | £ |

| Film partnership investment | 646,388 |  | 646,388 |  |

| Reduction in carrying value | (646,387 | ) | (646,387 | ) |

1 |  | 1 |  |

10. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 April 2024

| and 31 March 2025 | 99,003 |  |

| NET BOOK VALUE

| At 31 March 2025 | 99,003 |  |

| At 31 March 2024 | 99,003 |  |

11. | STOCKS

| 31.3.25 |  | 31.3.24

£ | £ |

| Stocks | 4,849,721 |  | 5,731,606 |  |

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

12. | DEBTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 2,699,217 |  | 3,168,753 |  |

| Amounts owed by group undertakings | 9,279,134 |  | 9,736,686 |  |

| Other debtors | 38,233 |  | 66,027 |  |

| Loans receivable | 88,000 |  | - |  |

| Prepayments and accrued income | 7,721 |  | 101,525 |  |

12,112,305 |  | 13,072,991 |  |

| Amounts falling due after more than one year:

| Other debtors | 86,707 |  | - |  |

| Aggregate amounts | 12,199,012 |  | 13,072,991 |  |

13. | CURRENT ASSET INVESTMENTS

| 31.3.25 |  | 31.3.24

£ | £ |

| Listed investments | 2,273,488 |  | 1,770,125 |  |

| Market value of listed investments at 31 March 2025 - £ 2,273,488 (2024 - £ 1,770,125 ).

| Capital Commitment

| The company has a binding capital commitment with Aberdeen Private Equity for $3,000,000 to fund various investments. At the year end £1,654,037 had been drawn down.

14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Bank loans and overdrafts (see note 15) | - |  | 5,139 |  |

| Trade creditors | 1,010,064 |  | 1,779,769 |  |

| Tax | 261,737 |  | 771,774 |  |

| Social security and other taxes | - |  | (5,683 | ) |

| VAT | 51,478 |  | 581,374 |  |

| Other creditors | 18,235 |  | 5,587,989 |  |

| Directors' loan accounts | 9,123,947 |  | 2,657,843 |  |

| Accrued expenses | 361,984 |  | 616,892 |  |

10,827,445 |  | 11,995,097 |  |

15. | LOANS

| An analysis of the maturity of loans is given below:

| 31.3.25 |  | 31.3.24

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | - |  | 5,139 |  |

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

16. | PROVISIONS FOR LIABILITIES

| 31.3.25 |  | 31.3.24

£ | £ |

| Deferred tax | 696,451 |  | 248,031 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 248,031 |  |

| Accelerated capital allowances | 448,420 |  |

| Balance at 31 March 2025 | 696,451 |  |

17. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 37,524 | Ordinary | £1 | 37,524 |  | 37,524 |  |

| All ordinary shares have full rights regarding voting, payment of dividends and distributions.

18. | RESERVES

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 April 2024 | 14,933,856 |  | 12,476 |  | 14,946,332 |  |

| Profit for the year | 1,987,616 |  | 1,987,616 |  |

| Dividends | (5,000,000 | ) | (5,000,000 | ) |

| At 31 March 2025 | 11,921,472 |  | 12,476 |  | 11,933,948 |  |

| At the balance sheet date the profit and loss account includes non distributable fair value adjustments relating to current asset investments totalling £511,293 (2024: £522,015).

19. | ULTIMATE PARENT COMPANY

| Hammonds of Knutsford Holdings Limited (incorporated in England ) is regarded by the directors as being the company's ultimate parent company.

| Hammonds Of Knutsford Plc (Registered number: 03780024) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

20. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

| 31.3.25 |  | 31.3.24

£ | £ |

| J Hammond

| Balance outstanding at start of year | (2,657,843 | ) | (345,593 | ) |

| Amounts advanced | 1,906,276 |  | 46,100 |  |

| Amounts repaid | (8,372,380 | ) | (2,358,350 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (9,123,947 | ) | (2,657,843 | ) |

| The director operates a current account with the company where transactions of a private nature are posted. The loan is repayable on demand.

21. | RELATED PARTY DISCLOSURES

| Entities with control, joint control or significant influence over the entity

| 31.3.25 |  | 31.3.24

£ | £ |

| Amount due to related party | 9,123,947 |  | 2,657,843 |  |

| All loans are unsecured and repayable on demand.

| Other related parties

| 31.3.25 |  | 31.3.24

£ | £ |

| Amount due to related party | - |  | 5,529,426 |  |

22. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling parties of the company are Mr J. Hammond and Mrs S L Hammond, who are directors, by virtue of their shareholdings in Hammonds of Knutsford Holdings Limited.