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REGISTERED NUMBER: 14898033 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 June 2025

for

Sarunds Holdings Ltd

Sarunds Holdings Ltd (Registered number: 14898033)

Contents of the Consolidated Financial Statements

for the Year Ended 30 June 2025

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 4 |

Consolidated Income Statement | 8 |

Consolidated Other Comprehensive Income | 9 |

Consolidated Balance Sheet | 10 |

Company Balance Sheet | 11 |

Consolidated Statement of Changes in Equity | 12 |

Company Statement of Changes in Equity | 13 |

Consolidated Cash Flow Statement | 14 |

Notes to the Consolidated Cash Flow Statement | 15 |

Notes to the Consolidated Financial Statements | 16 |

Sarunds Holdings Ltd

Company Information

for the Year Ended 30 June 2025

| DIRECTORS: | Mr R F J Darke

| Mrs G L Hitchens

| Miss M L Hutchings

| Mr G R Parkinson

| Miss L J Way

| SECRETARY: | Mrs G L Hitchens

| REGISTERED OFFICE: | Unit 1 Holland Way

| Blandford Forum

| Dorset

| DT11 7SX

| REGISTERED NUMBER: | 14898033 (England and Wales)

| AUDITORS: | Griffiths Marshall

| Floor 4

| Llanthony Warehouse

| The Docks

| Gloucester

| Gloucestershire

| GL1 2EH

Sarunds Holdings Ltd (Registered number: 14898033)

Group Strategic Report

for the Year Ended 30 June 2025

The directors present their strategic report of the company and the group for the year ended 30 June 2025.

The House of Sarunds Limited sources, imports & distributes high quality Chocolate & Confectionery - predominantly to retail customers. The company maintains a broad spectrum of products& customers, making it highly resilient to shifts in business levels with any one customer or market sector.

REVIEW OF BUSINESS

During this fiscal year, The House of Sarunds has successfully executed its strategy of combining growth in the "core" customer market of independent retail alongside expansion through larger multiple retail clients. As a result, the business delivered good turnover growth - consolidating the significant gains made the prior year - as well as growth in numbers of active customers.

It also maintained margins ahead of plan, whilst cost growth was well managed - reflecting good operational disciplines across the business. This delivered solid profit growth and subsequent improvement of the balance sheet.

PRINCIPAL RISKS AND UNCERTAINTIES

The principle risk to the business continues to be the highly unusual "spike" in cocoa prices which has driven chocolate prices up at unprecedented levels. This is allied to pressure from retailers for additional margin to cover rises in taxation and other operational costs.

The House of Sarunds has been active in developing new ranges which mitigate risk from reduced chocolate demand as well as using its buying expertise and ability to buy flexibly - mitigating much, but not all, of this risk.

FUTURE DEVELOPMENTS

The House of Sarunds will continue its "twin track" strategy; increasing the number of independent customers through increased marketing activity and also building broader ranges with larger customers and new channels through targeted range extension.

During the next fiscal year, The House of Sarunds will also progress the development of new warehouse facilities to increase operational space and deliver operational efficiencies to underpin long term growth plans.

KEY PERFORMANCE INDICATORS

| 2025 |  | 2024 |  |

Sales |  | £17,900,711 |  | £16,084,337 |  |

Gross Profit |  | £4,943,054 |  | £4,392,186 |  |

Gross Profit Margin |  | 27.6% |  | 27.3% |  |

Operating Profit |  | £959,357 |  | £594,202 |  |

ON BEHALF OF THE BOARD:

Mr R F J Darke - Director

8 October 2025

Sarunds Holdings Ltd (Registered number: 14898033)

Report of the Directors

for the Year Ended 30 June 2025

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2025.

DIVIDENDS

Dividends of £250,000 (2024: £200,000) were paid in the year. The directors do not recommend payment of a final dividend.

DIRECTORS

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

Mr R F J Darke

Mrs G L Hitchens

Miss M L Hutchings

Mr G R Parkinson

Miss L J Way

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

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

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Griffiths Marshall, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr R F J Darke - Director

8 October 2025

Report of the Independent Auditors to the Members of

Sarunds Holdings Ltd

Opinion

We have audited the financial statements of Sarunds Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the group's and of the parent company affairs as at 30 June 2025 and of the group's 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Sarunds Holdings Ltd

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

- | certain disclosures of directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Sarunds Holdings Ltd

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:

Extent to which our procedures are capable of detecting irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- |  | Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud; |

- |  | Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection; |

- |  | Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; |

- |  | Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. |

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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

Sarunds Holdings Ltd

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.

Greg Lewis (Senior Statutory Auditor)

for and on behalf of Griffiths Marshall

Floor 4

Llanthony Warehouse

The Docks

Gloucester

Gloucestershire

GL1 2EH

17 October 2025

Sarunds Holdings Ltd (Registered number: 14898033)

Consolidated Income Statement

for the Year Ended 30 June 2025

| Period

| 26.5.23

| Year Ended |  | to

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

TURNOVER | 17,900,711 |  | 16,084,337 |  |

Cost of sales | 12,957,657 |  | 11,692,151 |  |

GROSS PROFIT | 4,943,054 |  | 4,392,186 |  |

Administrative expenses | 3,983,817 |  | 3,811,924 |  |

959,237 |  | 580,262 |  |

Other operating income | 120 |  | 13,940 |  |

OPERATING PROFIT | 5 | 959,357 |  | 594,202 |  |

Interest receivable and similar income | 15,241 |  | 10,359 |  |

974,598 |  | 604,561 |  |

Interest payable and similar expenses | 6 | 54,631 |  | 62,919 |  |

PROFIT BEFORE TAXATION | 919,967 |  | 541,642 |  |

Tax on profit | 7 | 252,033 |  | 192,085 |  |

PROFIT FOR THE FINANCIAL YEAR | 667,934 |  | 349,557 |  |

Profit attributable to:

Owners of the parent | 667,934 |  | 349,557 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Consolidated Other Comprehensive Income

for the Year Ended 30 June 2025

| Period

| 26.5.23

| Year Ended |  | to

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 667,934 |  | 349,557 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 667,934 |  | 349,557 |  |

Total comprehensive income attributable to:

Owners of the parent | 667,934 |  | 349,557 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Consolidated Balance Sheet

30 June 2025

| 30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | 826,267 |  | 934,312 |  |

Tangible assets | 11 | 392,955 |  | 287,447 |  |

Investments | 12 | - |  | - |  |

1,219,222 |  | 1,221,759 |  |

CURRENT ASSETS

Stocks | 13 | 2,427,388 |  | 1,788,234 |  |

Debtors | 14 | 1,766,370 |  | 1,543,057 |  |

Cash at bank and in hand | 418,828 |  | 475,980 |  |

4,612,586 |  | 3,807,271 |  |

CREDITORS

Amounts falling due within one year | 15 | 2,455,493 |  | 1,873,693 |  |

NET CURRENT ASSETS | 2,157,093 |  | 1,933,578 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,376,315 |  | 3,155,337 |  |

CREDITORS

Amounts falling due after more than one year | 16 | (2,731,085 | ) | (2,942,111 | ) |

PROVISIONS FOR LIABILITIES | 19 | (77,789 | ) | (63,719 | ) |

NET ASSETS | 567,441 |  | 149,507 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 100 |  | 100 |  |

Retained earnings | 21 | 567,341 |  | 149,407 |  |

SHAREHOLDERS' FUNDS | 567,441 |  | 149,507 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2025 and were signed on its behalf by:

Mr R F J Darke - Director

Sarunds Holdings Ltd (Registered number: 14898033)

Company Balance Sheet

30 June 2025

| 30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | - |  | - |  |

Investments | 12 | 4,000,000 |  | 4,000,000 |  |

4,000,000 |  | 4,000,000 |  |

CURRENT ASSETS

Debtors | 14 | 49 |  | 961 |  |

Cash at bank | 12,995 |  | 12,742 |  |

13,044 |  | 13,703 |  |

CREDITORS

Amounts falling due within one year | 15 | 107,597 |  | 93,944 |  |

NET CURRENT LIABILITIES | (94,553 | ) | (80,241 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,905,447 |  | 3,919,759 |  |

CREDITORS

Amounts falling due after more than one year | 16 | 2,696,085 |  | 2,807,111 |  |

NET ASSETS | 1,209,362 |  | 1,112,648 |  |

CAPITAL AND RESERVES

Called up share capital | 20 | 100 |  | 100 |  |

Retained earnings | 21 | 1,209,262 |  | 1,112,548 |  |

SHAREHOLDERS' FUNDS | 1,209,362 |  | 1,112,648 |  |

Company's profit for the financial year | 346,714 |  | 1,312,548 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2025 and were signed on its behalf by:

Mr R F J Darke - Director

Sarunds Holdings Ltd (Registered number: 14898033)

Consolidated Statement of Changes in Equity

for the Year Ended 30 June 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 26 May 2023 | - |  | (150 | ) | (150 | ) |

Changes in equity

Issue of share capital | 100 |  | - |  | 100 |  |

Dividends | - |  | (200,000 | ) | (200,000 | ) |

Total comprehensive income | - |  | 349,557 |  | 349,557 |  |

Balance at 30 June 2024 | 100 |  | 149,407 |  | 149,507 |  |

Changes in equity

Dividends | - |  | (250,000 | ) | (250,000 | ) |

Total comprehensive income | - |  | 667,934 |  | 667,934 |  |

Balance at 30 June 2025 | 100 |  | 567,341 |  | 567,441 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Company Statement of Changes in Equity

for the Year Ended 30 June 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Changes in equity

Issue of share capital | 100 |  | - |  | 100 |  |

Dividends | - |  | (200,000 | ) | (200,000 | ) |

Total comprehensive income | - |  | 1,312,548 |  | 1,312,548 |  |

Balance at 30 June 2024 | 100 |  | 1,112,548 |  | 1,112,648 |  |

Changes in equity

Dividends | - |  | (250,000 | ) | (250,000 | ) |

Total comprehensive income | - |  | 346,714 |  | 346,714 |  |

Balance at 30 June 2025 | 100 |  | 1,209,262 |  | 1,209,362 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Consolidated Cash Flow Statement

for the Year Ended 30 June 2025

| Period

| 26.5.23

| Year Ended |  | to

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 769,531 |  | 3,067,545 |  |

Interest paid | (54,631 | ) | (62,919 | ) |

Tax paid | (242,659 | ) | (108,686 | ) |

Net cash from operating activities | 472,241 |  | 2,895,940 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (201,135 | ) | (91,499 | ) |

Purchase of fixed asset investments | - |  | (4,000,000 | ) |

Sale of tangible fixed assets | 6,500 |  | 959 |  |

Interest received | 15,241 |  | 330 |  |

Net cash from investing activities | (179,394 | ) | (4,090,210 | ) |

Cash flows from financing activities

Loan repayments in year | (99,999 | ) | (99,999 | ) |

Share issue | - |  | 100 |  |

Preference shares | - |  | 1,970,149 |  |

Equity dividends paid | (250,000 | ) | (200,000 | ) |

Net cash from financing activities | (349,999 | ) | 1,670,250 |  |

(Decrease)/increase in cash and cash equivalents | (57,152 | ) | 475,980 |  |

Cash and cash equivalents at beginning of year | 2 | 475,980 |  | - |  |

Cash and cash equivalents at end of year | 2 | 418,828 |  | 475,980 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Cash Flow Statement

for the Year Ended 30 June 2025

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

| Period

| 26.5.23

| Year Ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Profit before taxation | 919,967 |  | 541,642 |  |

| Depreciation charges | 199,178 |  | 203,213 |  |

| (Profit)/loss on disposal of fixed assets | (2,005 | ) | 1,481 |  |

| Opening cash balance | - |  | 1,679,028 |  |

| Finance costs | 54,631 |  | 62,919 |  |

| Finance income | (15,241 | ) | (10,359 | ) |

1,156,530 |  | 2,477,924 |  |

| Increase in stocks | (639,154 | ) | (686,823 | ) |

| Decrease/(increase) in trade and other debtors | 156,085 |  | (1,254,329 | ) |

| Increase in trade and other creditors | 96,070 |  | 2,530,773 |  |

| Cash generated from operations | 769,531 |  | 3,067,545 |  |

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 30 June 2025

| 30.6.25 |  | 1.7.24

£ | £ |

| Cash and cash equivalents | 418,828 |  | 475,980 |  |

| Period ended 30 June 2024

| 30.6.24 |  | 26.5.23

£ | £ |

| Cash and cash equivalents | 475,980 |  | - |  |

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.7.24 | Cash flow | At 30.6.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 475,980 |  | (57,152 | ) | 418,828 |  |

475,980 |  | (57,152 | ) | 418,828 |  |

| Debt

| Debts falling due within 1 year | (100,000 | ) | - |  | (100,000 | ) |

| Debts falling due after 1 year | (2,095,149 | ) | 100,000 |  | (1,995,149 | ) |

(2,195,149 | ) | 100,000 |  | (2,095,149 | ) |

| Total | (1,719,169 | ) | 42,848 |  | (1,676,321 | ) |

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements

for the Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| Sarunds Holdings Ltd 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.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the requirements of the Companies Act 2006.

| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

| Critical accounting judgements and key sources of estimation uncertainty

| In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Critical judgements

| The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

| Turnover

| Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

| Intangible assets

| Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

| Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Trademarks Over the useful life

| Website development 5 years straight line

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values

| over their useful lives on the following bases:

| Leasehold land and buildings Over the life of the lease

| Fixtures and fittings 3 to 10 years straight line

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

| Stocks

| Key estimates are applied in establishing the value of stock held by the Company. An assessment is performed at each reporting date and a stock provision is recognised when the selling price less costs to complete and sell, are lower than its carrying amount. The stock provision at the balance sheet date was £185,090 (2024: £51,173).

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

| 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at

| transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

| Other financial assets

| Other financial assets, including investments in equity instruments which are not subsidiaries, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was

| recognised, the impairment is reversed. The reversal is such that the current carrying amount does not

| exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual

| arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Basic financial liabilities

| Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

| Other financial liabilities

| Derivatives, including forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently remeasured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

| Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

| Derecognition of financial liabilities

| Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

| Equity instruments

| Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

| Taxation

| The tax expense represents the sum of the tax currently payable and deferred tax.

| Current tax

| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

| Deferred tax

| Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

| Foreign exchange

| Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

| Pension costs and other post-retirement benefits

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

| Going concern

| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus

| the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The directors have reviewed the future prospects of the company and its cashflows, including fluctuations in the market place and current global issues at the time of approving the financial statements.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

| The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

| Bad debt provision

| The trade debtors balance recorded in the Company's Balance Sheet is reviewed for bad debts by management on a regular basis. Any bad debts discovered are provided for in full via a specific provision. The bad debt provision at the balance sheet date (exclusive of any intercompany bad debt provision) was £68,774 (2024: £56,343).

3. | EMPLOYEES AND DIRECTORS

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

|  | 30.06.25 |  | 30.06.24 |  |

|  | Number |  | Number |  |

| Directors |  | 6 |  | 6 |  |

| Employees |  | 70 |  | 63 |  |

|  | 76 |  | 69 |  |

| Their aggregate remuneration comprised:

|  | 30.06.25 |  | 30.06.24 |  |

|  | £ |  | £ |  |

| Wages and salaries |  | 2,505,218 |  | 2,242,167 |  |

| Social security costs |  | 248,219 |  | 216,918 |  |

| Pension costs |  | 156,226 |  | 119,824 |  |

|  | 2,909,663 |  | 2,578,909 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

4. | DIRECTORS' EMOLUMENTS

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Remuneration for qualifying services |  | 404,665 |  | 527,239 |  |

| Company pension contributions to defined contribution schemes |  | 87,844 |  | 58,122 |  |

| Remuneration disclosed above include the following amounts paid to the highest paid director:

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Remuneration for qualifying services |  | 80,225 |  | 77,138 |  |

5. | OPERATING PROFIT

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

| Period

| 26.5.23

| Year Ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Hire of plant and machinery | 18,052 |  | 27,007 |  |

| Other operating leases | 249,700 |  | 198,546 |  |

| Depreciation - owned assets | 91,132 |  | 93,173 |  |

| (Profit)/loss on disposal of fixed assets | (2,005 | ) | 1,481 |  |

| Goodwill amortisation | 102,577 |  | 102,577 |  |

| Patents and licences amortisation | 136 |  | 136 |  |

| Development costs amortisation | 5,332 |  | 10,448 |  |

| Auditors' remuneration | 28,575 |  | 20,775 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period

| 26.5.23

| Year Ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Bank loan interest | 42,263 |  | 47,131 |  |

| Other interest | 12,368 |  | 15,788 |  |

54,631 |  | 62,919 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

7. | TAXATION

| Analysis of the tax charge

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

| Period

| 26.5.23

| Year Ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Current tax:

| UK corporation tax | 247,460 |  | 192,085 |  |

| Tax- prior year adj | (9,497 | ) | - |  |

| Total current tax | 237,963 |  | 192,085 |  |

| Deferred tax | 14,070 |  | - |  |

| Tax on profit | 252,033 |  | 192,085 |  |

8. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.

9. | DIVIDENDS

| Period

| 26.5.23

| Year Ended |  | to

| 30.6.25 |  | 30.6.24

£ | £ |

| Ordinary Shares shares of 1 each

| Final | 250,000 |  | 200,000 |  |

10. | INTANGIBLE FIXED ASSETS

| Group

| Patents |

| and |  | Development |

| Goodwill |  | licences |  | costs |  | Totals

£ | £ | £ | £ |

| COST

| At 1 July 2024

| and 30 June 2025 | 1,025,769 |  | 680 |  | 55,784 |  | 1,082,233 |  |

| AMORTISATION

| At 1 July 2024 | 102,577 |  | 408 |  | 44,936 |  | 147,921 |  |

| Amortisation for year | 102,577 |  | 136 |  | 5,332 |  | 108,045 |  |

| At 30 June 2025 | 205,154 |  | 544 |  | 50,268 |  | 255,966 |  |

| NET BOOK VALUE

| At 30 June 2025 | 820,615 |  | 136 |  | 5,516 |  | 826,267 |  |

| At 30 June 2024 | 923,192 |  | 272 |  | 10,848 |  | 934,312 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

11. | TANGIBLE FIXED ASSETS

| Group

| Fixtures |

| Short |  | and |

| leasehold |  | fittings |  | Totals

£ | £ | £ |

| COST

| At 1 July 2024 | 193,805 |  | 742,323 |  | 936,128 |  |

| Additions | 180,006 |  | 21,129 |  | 201,135 |  |

| Disposals | - |  | (8,500 | ) | (8,500 | ) |

| At 30 June 2025 | 373,811 |  | 754,952 |  | 1,128,763 |  |

| DEPRECIATION

| At 1 July 2024 | 165,900 |  | 482,781 |  | 648,681 |  |

| Charge for year | 10,634 |  | 80,498 |  | 91,132 |  |

| Eliminated on disposal | - |  | (4,005 | ) | (4,005 | ) |

| At 30 June 2025 | 176,534 |  | 559,274 |  | 735,808 |  |

| NET BOOK VALUE

| At 30 June 2025 | 197,277 |  | 195,678 |  | 392,955 |  |

| At 30 June 2024 | 27,905 |  | 259,542 |  | 287,447 |  |

12. | FIXED ASSET INVESTMENTS

| Company

| Shares in

| group

| undertaking

£ |

| COST

| At 1 July 2024

| and 30 June 2025 | 4,000,000 |  |

| NET BOOK VALUE

| At 30 June 2025 | 4,000,000 |  |

| At 30 June 2024 | 4,000,000 |  |

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiaries

| Chocbox Limited

| Registered office: Unit 1, Holland Way Industrial Estate, Holland Way, Blandford Forum, England, DT11 7SX

| Nature of business: Wholesale of sugar, chocolate and sugar

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

12. | FIXED ASSET INVESTMENTS - continued

| Choconauts Limited

| Registered office: Unit 1, Holland Way Industrial Estate, Holland Way, Blandford Forum, England, DT11 7SX

| Nature of business: Wholesale of sugar, chocolate and sugar

| %

| Class of shares: | holding |

| Ordinary | 50.00 |

| The House of Sarunds Limited

| Registered office: Unit 1 Holland Way, Blandford Forum, Dorset, England, DT11 7SX

| Nature of business: Wholesale of sugar, chocolate and sugar

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

13. | STOCKS

| Group |

| 30.6.25 |  | 30.6.24 |

£ | £ |

| Stocks | 2,086,318 |  | 1,788,234 |  |

| Goods in transit | 341,070 |  | - |  |

2,427,388 |  | 1,788,234 |  |

| The stocks represents finished goods and goods for resale.

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

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

£ | £ | £ | £ |

| Trade debtors | 1,147,024 |  | 1,253,368 |  | - |  | - |  |

| Other debtors | 306,653 |  | 49,674 |  | 49 |  | 961 |  |

| Prepayments | 312,693 |  | 240,015 |  | - |  | - |  |

1,766,370 |  | 1,543,057 |  | 49 |  | 961 |  |

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

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 17) | 100,000 |  | 100,000 |  | - |  | - |  |

| Trade creditors | 840,065 |  | 818,397 |  | - |  | - |  |

| Tax | 78,703 |  | 83,399 |  | - |  | - |  |

| Social security and other taxes | 61,324 |  | 46,480 |  | 1,537 |  | - |  |

| VAT | 235,425 |  | 175,867 |  | - |  | - |  |

| Other creditors | 152,931 |  | 161,090 |  | 102,485 |  | 93,944 |  |

| Directors' current accounts | 181,617 |  | 120,115 |  | - |  | - |  |

| Accrued expenses | 805,428 |  | 368,345 |  | 3,575 |  | - |  |

2,455,493 |  | 1,873,693 |  | 107,597 |  | 93,944 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

| The other creditors represents the loan from the shareholders and regular monthly instalments are made to repay these loans.

16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

£ | £ | £ | £ |

| Bank loans (see note 17) | 25,000 |  | 125,000 |  | - |  | - |  |

| Preference shares (see note 17) | 1,970,149 |  | 1,970,149 |  | 1,970,149 |  | 1,970,149 |  |

| Other creditors | 735,936 |  | 846,962 |  | 725,936 |  | 836,962 |  |

2,731,085 |  | 2,942,111 |  | 2,696,085 |  | 2,807,111 |  |

17. | LOANS

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

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

£ | £ | £ | £ |

| Amounts falling due within one year or | on demand: |

| Bank loans | 100,000 |  | 100,000 |  | - |  | - |  |

| Amounts falling due between one and | two years: |

| Bank loans - 1-2 years | 25,000 |  | 125,000 |  | - |  | - |  |

| Amounts falling due between two and | five years: |

| Preference shares | 1,970,149 |  | 1,970,149 |  | 1,970,149 |  | 1,970,149 |  |

| The CBIL loan is secured by the Assets of the company. The lender has been given a partial guarantee from the Secretary of State, under the Coronavirus Business Interruption Loan Scheme.

| The 1,970,149 preference shares each with nominal value of £1 are redeemable at par on demand of Sarunds Holdings Ltd or shareholder.

18. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Non-cancellable |

| operating leases |

| 30.6.25 |  | 30.6.24

£ | £ |

| Within one year | 361,356 |  | 294,838 |  |

| Between one and five years | 802,445 |  | 273,634 |  |

1,163,801 |  | 568,472 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

18. | LEASING AGREEMENTS - continued

| At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases.

19. | PROVISIONS FOR LIABILITIES

| Group |

| 30.6.25 |  | 30.6.24 |

£ | £ |

| Deferred tax | 77,789 |  | 63,719 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 July 2024 | 63,719 |  |

| Provided during year | 14,070 |  |

| Balance at 30 June 2025 | 77,789 |  |

20. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.6.25 |  | 30.6.24

| value: | £ | £ |

| 100 | Ordinary Shares | 1 | 100 |  | 100 |  |

21. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1 July 2024 | 149,407 |  |

| Profit for the year | 667,934 |  |

| Dividends | (250,000 | ) |

| At 30 June 2025 | 567,341 |  |

| Company

| Retained

| earnings

£ |

| At 1 July 2024 | 1,112,548 |  |

| Profit for the year | 346,714 |  |

| Dividends | (250,000 | ) |

| At 30 June 2025 | 1,209,262 |  |

Sarunds Holdings Ltd (Registered number: 14898033)

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

22. | PENSION COMMITMENTS

|  | 2025 |  | 2024 |  |

| Defined contribution schemes |  | £ |  | £ |  |

| Charge to profit or loss in respect of defined contribution schemes |  | 156,226 |  | 119,824 |  |

| The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

23. | RELATED PARTY DISCLOSURES

| Transactions with related parties

| The company has taken advantage of the exemption under FRS 102 whereby it has not disclosed transactions with any wholly owned subsidiary of the group.

| In relation to directors loan account balances, the following amounts were outstanding at the reporting end date:

|  | 2025 |  | 2024 |  |

| Amounts due to related parties |  | £ |  | £ |  |

| Director loan account |  | 181,617 |  | 120,115 |  |

| The company was charged interest on this amount of £12,260 (2024: £15,788)

24. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling parties are Mr R Darke, Mrs G Hitchens, Mr M Hutchings, Mr G Parkinson and

| Miss L Way.