REGISTERED NUMBER: 06343676 (England and Wales)

Strategic Report, Report of the Director and

Audited Financial Statements for the Year Ended 31 January 2025

for

ONE TRAVELLER LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

5

Report of the Independent Auditors

7

Income Statement

11

Other Comprehensive Income

12

Balance Sheet

13

Statement of Changes in Equity

14

Notes to the Financial Statements

15

DIRECTOR:

I Darkin

SECRETARY:

E Darkin

REGISTERED OFFICE:

155 Wellingborough Road

RUSHDEN

Northamptonshire

NN10 9TB

REGISTERED NUMBER:

06343676 (England and Wales)

SENIOR STATUTORY AUDITOR:

Carl Elsby ACA

AUDITORS:

Elsby & Co (Sywell) Ltd

Statutory Auditors

155 Wellingborough Road

Rushden

Northamptonshire

NN10 9TB

The director presents his strategic report for the year ended 31 January 2025.

One Traveller Limited is the parent of One Traveller Transport Limited. Together these two companies are effectively managed as a single operating Leisure and Travel business.

One Traveller Limited specialises in providing ATOL & ABTA protected, escorted group holidays. These holidays are provided throughout the UK, Europe and Worldwide, for solo travellers aged over 50, marketed via physical and online brochures, as well as on their website. It is the company's aim to provide a safe and friendly travelling environment for solo travellers, whilst at the same time enabling them to take in the highlights and experiences that a particular destination has to offer.

REVIEW OF BUSINESS

The company has seen significant growth in the last financial year, with a 35.6% increase in turnover to £23.4m (2024: £17.3m).

This growth is attributed to the return and further growth of customer confidence, which has been reflected in a stronger forward book position than the previous year. The company has had a steady flow of departures in both the shoulder season and the peak season, contributing to this increase.

The company offers a broad range of holidays across many regions of the globe which helps to mitigate the risk of single destination failure. The company's plans for growth include expanding the range of holidays available to include new destinations that the company does not currently offer, widening the options for its customers. The company is looking at special interest holidays, as an area of focus for the future tours.

Increased levels of operating activities have resulted in an increase in operating expenses of 26.3% to £21.33m (2024: £16.9m). Included within operating expenses are staffing expenses, the investment in staff has meant that staffing costs have increased by 33.48%

Other operating income has decreased to £0.5m (2024: £1.2m) due to a decrease of management fees between One Traveller Limited and its subsidiary, One Traveller Transport Limited, resulting from the increase in non-UK holidays this year.

Overall operating profit for the year has increased by 61.1% to £2.6m. (2024: £1.6m).

As a result, the company has had a 54.4% increase in profit before taxation, up to £2.6m. (2024: £1.7m).

PRINCIPAL RISKS AND UNCERTAINTIES

The director continually reviews the possible risks to the company, using a mixture of measures to achieve this. Where possible and relevant, risks to the company are covered by insurance.

Liquidity Risk:

To manage risk, the director sees cash flow management as a key area. Cash flow forecasts are prepared, monitored and continually updated, to reflect current and anticipated turnover. This helps the company ensure that all liabilities can be met when they become due. This also helps with any trade creditor risk as this is managed by ensuring that sufficient funds are available to meet the amounts as and when they fall due. The company has good cash reserves in the bank, which have improved this year by 12.77%. The company's principal financial instruments consist of bank balances, trade creditors and receivables.

Market Risk:

Due to the nature of the European and Worldwide holidays, the company faces external factors which may affect them, including destination disruption, and/or natural disaster. To help manage this risk, the company ensures that its portfolio of holidays is diverse. The company has also expanded its portfolio of rail holidays, as well as cruise holidays, and continue to plan to further expand its range of destinations, to help manage and mitigate this potential risk.

The company is also at risk of geo-political events affecting the industry in which it operates. Events of terrorism and war, such as the wars between Russia and Ukraine, and Israel and Hamas, can have a significant impact upon customer behaviour and may unexpectedly disrupt the travel industry. To help alleviate this risk, the company plans its itineraries with care and offers a geographic spread of destinations within its portfolio. The company reviews, and responds quickly, to all global events to minimise its ongoing exposure.

Competitive Risk:

The company operates in a competitive industry where service and price is important. Conditions which can suddenly affect the holiday costs present a risk, such as exchange rates, as the company provides holidays worldwide. To manage this risk, the company closely monitors foreign exchange rates and reacts accordingly.

NON-FINANCIAL INFORMATION

The company prides itself in providing the best holidays possible, for all mature solo travellers and look ahead to providing many more years of great travel experiences for all its customers. This year the company has been awarded the top prize at the British Travel Awards in the "Best Small Travel Company for Singles Holidays" category, adding to its previous accolades. One Traveller is also a Which? recommended solo specialist and was the only company in the survey with 5-star service.

The director recognises that its employees are integral to business success, both when working in the UK as well as Overseas. The company offers an employee benefits package to all its employees and is committed to attracting and retaining employees.

The director understands the challenges in the economy that directly affect the business. The Director and the Senior Management Team review key risk factors faced by the company and have a hands-on approach when it comes to day-to-day decision making. Performance is constantly monitored.

The company recognises the importance of strong relationships with suppliers and as such acknowledges the importance of, and ensures it continues to make, timely and full payments to its suppliers. By fostering relationships with suppliers, the company aims to enhance the overall holiday experience for its customers.

The company is committed to minimising its carbon footprint, as part of its overall strategy to continue to improve its sustainability. To help achieve this goal, the company produces ecofriendly brochures with potato starch wrapping, all of which are 100% recyclable. Alongside this, all brochures and newsletters are also available to be viewed online. The company encourages its staff to be more environmentally friendly through its green policies.

The company is also committed to helping charities close to its heart, achieving this via means of practical support and financial donations, encouraging its staff to participate in charitable activities wherever possible.

KEY PERFORMANCE INDICATORS

Change 2025

2025

2024

vs 2024

Number of UK holidays

31

39

-20.51%

Number of European holidays

138

112

23.21%

Number of Worldwide holidays

58

48

20.83%

Cruises

21

8

162.5%

Total number of holidays

248

199

24.62%

Number of destinations

47

36

30.56%

OUTLOOK AND FUTURE PROSPECTS

Even though there have been various input cost pressures and global uncertainties, the company has remained robust, and consequently, margins per booked passenger have improved.

Moving forwards, the company is looking at expanding its range of holidays to not only help improve the variety of choice available to its customers, but to also help improve the diversity of destination and mitigate potential threats. The director feels that the escorted group holidays for solo travellers over 50, is a resilient and popular product, that will continue to remain strong and further grow over the coming years.

ON BEHALF OF THE BOARD:

I Darkin - Director

17 July 2025

The director presents his report with the financial statements of the company for the year ended 31 January 2025.

DIVIDENDS

An interim dividend of 12.95 per share was paid on 3 April 2024. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 January 2025 will be £ 388,538 .

DIRECTOR

I Darkin held office during the whole of the period from 1 February 2024 to the date of this report.

DONATIONS AND EXPENDITURE

All donations paid out are to local charities and none are of political nature.

DISCLOSURE IN THE STRATEGIC REPORT

Certain disclosures in the Report of the Director required by s.414c(II) of the Companies Act 2005 and Schedule 7 of the Large and Medium-Sized Companies and Groups (Accounts and Reports) Regulations 2008 are given in the strategic report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Elsby & Co (Sywell) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

I Darkin - Director

17 July 2025

Opinion

We have audited the financial statements of One Traveller Limited (the 'company') for the year ended 31 January 2025 which comprise the Income Statement, Other 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 January 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Director 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 Director 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 Director.

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 director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

We considered the nature of the company's industry and its control environment, and discussed the Company's policies and procedures relating to fraud and compliance with laws and regulations.

We obtained an understanding of the legal and regulatory frameworks that the company operates in, and identified the key laws and regulations that:

-

had a direct effect on the determination of material amounts and disclosures in the financial statements; and

-

do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs ( UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

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

-

reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

-

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

-

enquiring of management concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations.

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

Use of our report

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

Carl Elsby ACA (Senior Statutory Auditor)

Elsby and Co Elsby & Co (Sywell) Ltd

Statutory Auditors

155 Wellingborough Road

Rushden

Northamptonshire

NN10 9TB

21 July 2025

TURNOVER

4

23,415,950

17,274,237

Cost of sales

18,062,818

14,445,755

GROSS PROFIT

5,353,132

2,828,482

Administrative expenses

3,270,643

2,450,088

2,082,489

378,394

Other operating income

537,687

1,249,500

OPERATING PROFIT

6

2,620,176

1,627,894

Income from shares in group undertakings

-

7,000

Income from fixed asset investments

-

351

Interest receivable and similar income

173,909

71,114

173,909

78,465

2,794,085

1,706,359

Gain/loss on revaluation of assets

(160,000

)

-

PROFIT BEFORE TAXATION

2,634,085

1,706,359

Tax on profit

8

664,349

374,803

PROFIT FOR THE FINANCIAL YEAR

1,969,736

1,331,556

PROFIT FOR THE YEAR

1,969,736

1,331,556

OTHER COMPREHENSIVE INCOME

Revaluation adjustment

-

283,521

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

283,521

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,969,736

1,615,077

Note

Prior year adjustment

10

(62,474

)

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT

1,907,262

FIXED ASSETS

Intangible assets

11

5,295

7,566

Tangible assets

12

926,549

267,626

Investments

13

5,000

5,000

Investment property

14

340,000

250,000

1,276,844

530,192

CURRENT ASSETS

Stocks

15

-

22,124

Debtors

16

2,354,527

3,093,340

Investments

17

2,602,577

1,548,120

Cash at bank and in hand

3,967,086

3,517,847

8,924,190

8,181,431

CREDITORS

Amounts falling due within one year

18

7,026,428

7,069,024

NET CURRENT ASSETS

1,897,762

1,112,407

TOTAL ASSETS LESS CURRENT LIABILITIES

3,174,606

1,642,599

CREDITORS

Amounts falling due after more than one year

19

(13,000

)

(13,000

)

PROVISIONS FOR LIABILITIES

20

(13,921

)

(63,112

)

NET ASSETS

3,147,685

1,566,487

CAPITAL AND RESERVES

Called up share capital

21

30,000

30,000

Fair value reserve

22

91,536

1,536

Retained earnings

22

3,026,149

1,534,951

SHAREHOLDERS' FUNDS

3,147,685

1,566,487

The financial statements were approved by the director and authorised for issue on 17 July 2025 and were signed by:

I Darkin - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 February 2023

30,000

2,211,438

285,057

2,526,495

Changes in equity

Dividends

-

(2,291,564

)

-

(2,291,564

)

Total comprehensive income

-

1,677,551

(283,521

)

1,394,030

Balance at 31 January 2024

30,000

1,597,425

1,536

1,628,961

Prior year adjustment

-

(62,474

)

-

(62,474

)

As restated

30,000

1,534,951

1,536

1,566,487

Changes in equity

Dividends

-

(388,538

)

-

(388,538

)

Total comprehensive income

-

1,879,736

90,000

1,969,736

Balance at 31 January 2025

30,000

3,026,149

91,536

3,147,685

1.	STATUTORY INFORMATION

One Traveller 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 General Information page.

The principal activity of the Company during the year was the provision of holiday services.

The presentational currency of One Traveller Limited is considered to be pounds sterling and the financial statements are rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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).

Group financial statements

The financial statements contain information about One Traveller Limited as an individual company and do not contain consolidated financial information as the parent of the group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its ultimate parent, Rodina Holdings Limited, 155 Wellingborough Road, Rushden, NN10 9TB. This is both the smallest and largest group in which One Traveller Limited's accounts are consolidated.

Turnover

The Company is a provider of holiday services. Revenue originates solely from customer sales. Revenue is measured at fair value of the consideration received or receivable and is stated net of discounts and value added tax.

(i) Revenue recognition

Revenue in respect of tours and related services, is recognised on the date of departure of the tour, at which point the significant risks and rewards have been transferred to the passenger or the third party.

(ii) Client monies received in advance

Client monies received at the Statement of Financial Position date relating to tours or holidays departing after the year end are deferred and included with trade and other payables. If the date of the departure is in one year or less they are classified as current liabilities.

Other income

Other income includes; income from asset disposals, rental income, dividend income, interest and management charges.

Intangible assets

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives:

- Other intangible assets

10 years

If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations.

If the net fair value of the identifiable assets and liabilities acquired exceeds the cost of a business combination, the excess up to the fair value of non-monetary assets acquired is recognised in the profit or loss in the periods in which the non-monetary assets are recovered. Any excess exceeding fair value of non-monetary assets acquired is recognised in the profit or loss in the periods expected to be benefitted.

Tangible fixed assets

Tangible fixed assets are initially measured at cost or valuation and subsequently at cost or valuation less accumulated depreciation and any impairment losses.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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

Stocks relate to tour/holiday brochures. Stocks are stated at the lower of costs and net realisble value, after making due allowance for obsolete and slow moving items.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties, investments in non-puttable ordinary shares and short-term instruments from banks.

Financial assets that are measured at cost and amortised cost are addressed 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 the Consolidated Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Derivative financial instruments

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

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.

Hire purchase and leasing commitments

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

Pension costs and other post-retirement benefits

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

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

Foreign currency transactions and balance

In preparing the financial statements of the Company, transactions in currencies other than the functional currency of the Company are recognised at the spot rate at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transaction. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non monetary items that are measured in terms of historical cost in a foreign currency are not translated.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise.

Finance expenses

Finance expenses recognised in the Statement of Comprehensive Income mainly comprises bank interest and credit card interest.

Going concern

The Director, having assessed the company's financial position has no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the company to continue as a going concern. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, which are described in note 2, management is

required to make judgments, estimates and assumptions about the carrying values of assets and liabilities that are not readily separated from other sources. The estimates and underlying assumptions are based on

historical experience and other factors that are considered relevant. Actual results may differ from these

estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised if the revision affects only that period,

or in the period of the revision and future periods if the revision affects both current and future periods.

4.

TURNOVER

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

An analysis of turnover by geographical market is given below:

2025

2024

as restated

£

£

United Kingdom

2,343,092

1,420,394

Europe

9,984,941

7,885,663

United States of America

1,296,085

1,936,403

South America

2,796,242

1,215,125

Asia

4,474,073

3,097,337

Africa

2,521,517

1,719,315

23,415,950

17,274,237

5.	EMPLOYEES AND DIRECTORS

2025

2024

as restated

£

£

Wages and salaries

1,221,820

890,315

Social security costs

105,397

73,868

Other pension costs

143,615

137,662

1,470,832

1,101,845

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

2025

2024

as restated

Director

1

1

Employees

41

34

42

35

Key management personnel

The total gross remuneration paid to the Key Management Personnel was £211,661 (2024: £206,915).

2025

2024

as restated

£

£

Director's remuneration

16,706

11,078

Director's 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

6.	OPERATING PROFIT

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

2025

2024

as restated

£

£

Hire of plant and machinery

19,133

11,166

Depreciation - owned assets

73,896

83,763

Loss on disposal of fixed assets

2,039

50,188

Other intangible assets amortisation

2,271

2,271

Foreign exchange differences

(491

)

3,956

7.	AUDITORS' REMUNERATION

2025

2024

as restated

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

34,403

31,334

Total audit fees

34,403

31,334

8.

TAXATION

Analysis of the tax charge

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

2025

2024

as restated

£

£

Current tax:

UK corporation tax

713,539

443,032

Deferred tax

(49,190

)

(68,229

)

Tax on profit

664,349

374,803

UK corporation tax has been charged at 25% .