REGISTERED NUMBER: 01116956 (England and Wales)

STRATEGIC REPORT, DIRECTORS' REPORT AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

CODA PLASTICS LIMITED

Page

Company Information

1

Strategic Report

2

Directors' Report

3

Independent Auditors' Report

5

Statement of Income and Retained Earnings

9

Balance Sheet

10

Notes to the Financial Statements

11

DIRECTORS:

Mr J Campbell

Mr N Tate

Mr C Gray

SECRETARY:

Mr J Campbell

REGISTERED OFFICE:

Folgate Road

North Walsham

Norfolk

NR28 OAJ

REGISTERED NUMBER:

01116956 (England and Wales)

AUDITORS:

BW Audit Ltd

54 Thorpe Road

Norwich

Norfolk

NR1 1RY

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

REVIEW OF BUSINESS

The principal activity is that of injection moulding, blow moulding and product design, development and prototyping.

Turnover for the year increased by £106,837 to £9,543,048. However, gross profit decreased by £216,682 to £3,361,700 with an overall margin of 35.2% which is in line with 2023. The net profit before tax amounted to £658,679 with average employee numbers of 60.

The Board acknowledge that it has continued to be a challenging trading period with pressures on costs including energy and labour. The company is working with several PCR suppliers to ensure it remains ahead of market trends.

The Board are very pleased with the continued progress that has been made particularly with the development of the management structure which further reinforces the company's future growth plans. The company has recently been awarded an "AA" rating for BRC.

PRINCIPAL RISKS AND UNCERTAINTIES

There continues to be mixed sentiment towards plastic packaging, but alternative formats remain elusive and those that have come to market have a cost base which is not suited to the current economic climate. On this basis we do not see any noticeable downward trend in overall plastic usage, but we will continue to monitor this and will adapt as necessary.

The main risks are around macro-economic and political factors which have led to continued volatility in markets directly and indirectly affecting our sector. These include currency fluctuation, energy fluctuations and a continued subdued consumer demand. There remain cost pressures relating to wage and employment costs, packaging taxes (including EPR). These risks are monitored and measures taken where possible.

FINANCIAL KEY PERFORMANCE INDICATORS

The directors consider the key performance indicators, which they use to monitor and manage the business effectively, are those that communicate the financial performance and strength of the company. These include turnover, gross profit, customer satisfaction, supplier performance and average employee numbers and are discussed in detail within the business review above.

ON BEHALF OF THE BOARD:

Mr J Campbell - Director

22 October 2025

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

DIVIDENDS

Dividends of £144,000 (2024 - £1,194,000) were declared and paid in the year.

RESULTS

The profit for the year, after taxation, amounted to £511,129 (2024 - £694,107).

DIRECTORS

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

Mr J Campbell

Mr N Tate

Mr C Gray

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

The company has entered into qualifying third party indemnity arrangements for the benefit of all its directors in a form and scope which comply with the requirements of the Companies Act 2006 and which were in force throughout the year and remain in force.

MATTERS COVERED IN THE STRATEGIC REPORT

In accordance with section 414C (11) of the Companies Act 2006, information on exposure to risks and future developments is covered in the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this directors' report is approved has confirmed that:

- so far as the director is aware, there is no relevant audit information of which the company's auditor are unaware: and

- the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditor are aware of that information.

ON BEHALF OF THE BOARD:

Mr J Campbell - Director

22 October 2025

Opinion

We have audited the financial statements of Coda Plastics Limited (the 'company') for the year ended 31 May 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet 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 May 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 Directors' Report, but does not include the financial statements and our Auditors' Report thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

-	the Strategic Report and the Directors' Report 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 Directors' Report.

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 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The objectives of our audit in respect of fraud are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both the management and those charged with governance of the company.

Due to the field in which the company operates, we identified the areas most likely to have a direct material impact on the financial statements as compliance with UK tax legislation, UK accounting standards and the Companies Act 2006. In addition, we considered the provisions of other laws and regulations which whilst not having a direct impact on the financial statements, are fundamental to the company's ability to operate including health and safety; employment law, and compliance with various other regulations relevant to the operation of the company.

Our approach to identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, included the following:

- Enquiries with management about any known or suspected instances of non-compliance with laws and regulations, accidents in the workplace, potential litigation or claims and fraud;

- Reviewing legal and professional fees for indicators of litigation;

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

- Reviewing board minutes and any relevant correspondence with external authorities;

- Assessing the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance;

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

- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of any significant transactions outside the normal course of business.

Due to 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 is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Use of our report

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

Joanne Fox BA FCA (Senior Statutory Auditor)

for and on behalf of BW Audit Ltd

54 Thorpe Road

Norwich

Norfolk

NR1 1RY

22 October 2025

TURNOVER

4

9,543,048

9,436,211

Cost of sales

6,181,348

5,857,829

GROSS PROFIT

3,361,700

3,578,382

Distribution costs

634,738

642,675

Administrative expenses

2,067,710

1,985,057

2,702,448

2,627,732

659,252

950,650

Other operating income

4,614

-

OPERATING PROFIT

6

663,866

950,650

Interest receivable and similar income

12,426

-

676,292

950,650

Interest payable and similar expenses

7

17,613

19,191

PROFIT BEFORE TAXATION

658,679

931,459

Tax on profit

8

147,550

237,352

PROFIT FOR THE FINANCIAL YEAR

511,129

694,107

Retained earnings at beginning of year

3,553,439

4,053,332

Dividends

9

(144,000

)

(1,194,000

)

RETAINED EARNINGS AT END OF YEAR

3,920,568

3,553,439

FIXED ASSETS

Tangible assets

10

2,064,443

2,600,993

Investments

11

1

1

2,064,444

2,600,994

CURRENT ASSETS

Stocks

12

1,093,632

1,087,783

Debtors

13

2,201,743

1,737,618

Cash at bank and in hand

813,795

921,900

4,109,170

3,747,301

CREDITORS

Amounts falling due within one year

14

1,934,856

2,171,863

NET CURRENT ASSETS

2,174,314

1,575,438

TOTAL ASSETS LESS CURRENT LIABILITIES

4,238,758

4,176,432

CREDITORS

Amounts falling due after more than one year

15

(34,792

)

(194,520

)

PROVISIONS FOR LIABILITIES

19

(283,298

)

(428,373

)

NET ASSETS

3,920,668

3,553,539

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings

21

3,920,568

3,553,439

SHAREHOLDERS' FUNDS

3,920,668

3,553,539

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2025 and were signed on its behalf by:

Mr N Tate - Director

1.	STATUTORY INFORMATION

Coda Plastics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with 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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

The financial statements are presented in Sterling (£) and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Going concern

The directors have considered the company’s position at the time of signing the financial statements, and in particular the continued economic uncertainty and cost inflation. As part of their assessment, they have prepared forecasts which take a prudent account of expectations around trading performance and profitability in light of the above.

Based on this, the directors have concluded that they have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of signing these financial statements, and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

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

•

the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of Campbell & Tate Ltd as at 31 May 2025 which can be obtained from Companies House.

Turnover

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

Turnover is recognised when products and services are supplied to customers in line with contractual arrangements. At this point, control has passed to third parties, the transaction price can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the company.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bring the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property

- 2% on cost

Plant and machinery

- 33% on reducing balance and 10% on cost

Fixtures and fittings

- 25% on reducing balance

Motor vehicles

- 25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Valuation of investments

Investments in unlisted companies are measured at cost less accumulated impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

In determining the cost of stock, latest invoice price is used for raw materials and standard cost used for finished goods and work in progress. Standard cost is regularly reviewed and updated. Given the fast moving nature of most stock lines these methods are considered close to actual cost.

Debtors

Short-term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

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

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and loans to related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and 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 the Statement of income and retained earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the reporting date.

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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. All borrowing costs are charged to profit or loss in the year in which they are incurred.

Dividends

Dividends are recognised when they become legally payable. Interim dividends are recognised when paid. Final dividends are recognised when approved by the shareholders at an annual general meeting.

Invoice factoring

The company has entered into an invoice factoring agreement. Due to the nature of the agreement, the amounts owed by customers are included within trade debtors and the amounts owed from/to the invoice factoring company are included within bank/creditors.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and judgements are continually evaluated and are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The judgements, estimates and assumptions which have significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are addressed below:

Depreciation of tangible fixed assets

Included within plant and machinery are moulds and tooling work used for production. Due to their custom manufacture, often for a specific project, the directors have adopted a policy of 33% depreciation on a reducing balance basis based on historical company information. The carrying value is reviewed annually for those no longer in use and for which no alternative use is seen to exist at the time without significant modification.

Stock valuation

Stock is valued using the latest invoice price for raw materials and standard cost for finished goods and work in progress, which the directors consider appropriate given the fast moving nature of the stock lines. The carrying value of stock is reviewed regularly for any slow moving stock lines and potential impairment.

4.

TURNOVER

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

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,934,579

1,873,796

Social security costs

164,676

155,275

Other pension costs

202,520

202,511

2,301,775

2,231,582

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

2025

2024

Management and administration

16

13

Production

43

45

Sales

1

1

60

59

Agency staff were used at various times to meet demand which are not included in the above staff numbers but are included in wages and salaries costs. This amounted to £220,612 (2024 - £203,224).

2025

2024

£

£

Directors' remuneration

68,061

120,228

Directors' pension contributions to money purchase schemes

135,038

139,360

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

Money purchase schemes

3

4

6.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Hire of plant and machinery

28,356

31,423

Other operating leases

14,919

12,144

Depreciation - owned assets

337,940

368,643

Depreciation - assets on hire purchase contracts

113,795

113,795

Loss on disposal of fixed assets

85,814

-

Auditors remuneration

10,170

9,685

Foreign exchange differences

8,520

20,813

Management fees to parent company

450,000

450,000

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

35

-

Bank loan interest

785

2,398

Hire purchase interest

16,793

16,793

17,613

19,191

8.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

292,625

344,044

Deferred tax:

Origination and reversal of timing differences

(145,075

)

(106,692

)

Tax on profit

147,550

237,352

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

658,679

931,459

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

164,670

232,865

Effects of:

Expenses not deductible for tax purposes

1,648

1,648

Fixed asset differences

(18,768

)

2,839

Total tax charge

147,550

237,352

9.

DIVIDENDS

2025

2024

£

£

Interim

144,000

1,194,000

10.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 June 2024

1,246,347

8,776,727

276,556

146,896

10,446,526

Additions

-

1,999

-

-

1,999

Disposals

-

(1,229,042

)

-

-

(1,229,042

)

At 31 May 2025

1,246,347

7,549,684

276,556

146,896

9,219,483

DEPRECIATION

At 1 June 2024

434,971

7,114,885

233,669

62,008

7,845,533

Charge for year

22,927

396,864

10,722

21,222

451,735

Eliminated on disposal

-

(1,142,228

)

-

-

(1,142,228

)

At 31 May 2025

457,898

6,369,521

244,391

83,230

7,155,040

NET BOOK VALUE

At 31 May 2025

788,449

1,180,163

32,165

63,666

2,064,443

At 31 May 2024

811,376

1,661,842

42,887

84,888

2,600,993

Included in cost of land and buildings is freehold land of £ 100,000 (2024 - £ 100,000 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 June 2024

and 31 May 2025

1,137,968

DEPRECIATION

At 1 June 2024

375,811

Charge for year

113,795

At 31 May 2025

489,606

NET BOOK VALUE

At 31 May 2025

648,362

At 31 May 2024

762,157

11.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 June 2024

and 31 May 2025

55,110

PROVISIONS

At 1 June 2024

and 31 May 2025

55,109

NET BOOK VALUE

At 31 May 2025

1

At 31 May 2024

1

12.

STOCKS

2025

2024

£

£

Raw materials and work in progress

635,091

671,217

Finished goods

458,541

416,566

1,093,632

1,087,783

There is no significant difference between the replacement cost of stock and its carrying amount.

Stocks are stated after a provision of £7,945 (2024 - £5,350) against slow moving and obsolete stock.

13.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,180,284

1,703,475

Other debtors

2,500

2,500

Directors' current accounts

-

4,292

Prepayments and accrued income

18,959

27,351

2,201,743

1,737,618

14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 16)

-

19,315

Hire purchase contracts (see note 17)

159,728

215,305

Trade creditors

1,028,024

1,109,522

Amounts owed to group undertakings

33,139

40,972

Taxation

97,798

213,650

Social security and other taxes

321,832

330,493

Accruals and deferred income

294,335

242,606

1,934,856

2,171,863