REGISTERED NUMBER: 08821614 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 December 2024

for

Winit (UK) Limited

Page

Company Information

1

Strategic Report

2

Report of the Director

4

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTOR:

Z Zheng

SECRETARY:

Z Zheng

REGISTERED OFFICE:

Unit 5

St Modwen Park

Tamworth

Signet Way

B78 2FG

REGISTERED NUMBER:

08821614 (England and Wales)

AUDITORS:

Cartwrights

Chartered Accountants and Business Advisors

Statutory Auditor

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

The director presents his strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

The year to 31st December 2024 presented the business appears to be well-run and successful as income was up 11%. The market was excellent and eBay platform sales increased.

The share of cross-border e-commerce in global trade will increase steadily. China will become more active in international e-commerce trade in the future as the largest and fastest-growing manufacturing nation in the supply chain. The UK has consistently had one of the highest percentages and fastest rates of growth in the European e-commerce market. Winit Cooperation,the leading provider of cross-border logistics services in China and Winit UK, a subsidiary, expect their business volume to increase as the market as a whole continues to grow.

For the future development of the company, the favourable factor is the rapid development of Chinese sellers, which brings opportunities for the development of the company.

Due to the rapid development of China's e-commerce, the company's business has grown rapidly since 2020.

For the future development of the company, the favourable factor is the rapid development of Chinese sellers, which brings opportunities for the development of the company. Adverse factors like the epidemic situation has been controlled, and online consumption will be reduced. The company needs to reduce such adverse effects and maintain the current growth rate.

The cross-border e-Commerce market by GMV is expected to be worth between USD 1-2 trillion by 2030, depending on e Commerce penetration levels.

In terms of scale, global retail e-commerce is expected to maintain steady growth from 2024 to 2027, with the transaction volume reaching 8 trillion US dollars in 2027. The proportion of global retail market accounted for by e-commerce is expected to increase from 20.1% in 2024 to 22.6% in 2027.

From 2024 to 2027, global retail e-commerce will continue to maintain high single-digit growth, with growth rates reaching twice that of global retail growth. The industry still has growth potential and opportunities.

Ongoing shift to online shopping across the globe and favourable macro factors, including highly supportive national policies, scale and continued leadership of China's manufacturing industry and volatile logistics prices. Alongside these factors, Chinese brands are gaining recognition by customers worldwide, state policies are supportive of the cross -border e-Commerce market and related infrastructure. China has maintained its position as the world's largest exporter in 2019 and volatile and rising logistic prices are making overseas order fulfilment a much more economic and practical model for the cross -border c-commerce seller with better control over supply chain.

Key performance indicators

Performance of the company is monitored internally using a variety of key performance indicators (KPls) as highlighted below:

- VAS on-time completion rate: reduce WIP dwell and double handling, and lower ad-hoc overtime and outsourcing costs.

- Order fulfillment rate (OTIF): increase on-time, in-full shipments; reduce cancellations, refusals, and penalties; enhance complaint handling efficiency and channel credibility.

- Returns processing on-time rate: accelerate refunds/exchanges and good-stock replenishment, increase resale rate, reduce obsolescence and markdowns.

- Putaway on-time rate: shorten "arrival to available-to-sell" time, reduce "stock present but unavailable" and stockouts, lower safety stock, and improve slot utilization/turnover.

The core purposes of these timeliness KPIs are to honor commitments, reduce costs, improve efficiency, control risks, and drive improvement.

PRINCIPAL RISKS AND UNCERTAINTIES

In the course of normal business, the company continually assesses significant risks faced and takes action to mitigate the potential impacts. The principal risks (which is not intended to be a comprehensive analysis) facing the company are as follows:

Financial and liquidity

The general health of the UK economy and individuals' disposable income is important to the company's success. The company manages any potential downturn in the economy by a policy of negotiating terms with suppliers.

Operating capital - The availability of operating capital is crucial to ensuring that the company has sufficient funds to meet their liabilities as they fall due to suppliers and employees. The company manages this by reviewing the cash flow daily to ensure sufficient funds are available.

Operational risks

Customer service - The company relies on its staff to provide quality customer service. Staff are provided with rigorous training, covering customer service to ensure that high standards are maintained.

Health and safety - All staff are provided with comprehensive training to ensure they are all aware of the risks and how they can help to mitigate them.

ON BEHALF OF THE BOARD:

Z Zheng - Director

22 October 2025

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of providing packaging services.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTOR

Z Zheng held office during the whole of the period from 1 January 2024 to the date of this 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, Cartwrights, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Z Zheng - Director

22 October 2025

Opinion

We have audited the financial statements of Winit (UK) Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 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 four, 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 ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations, and that they remained alert to instances of non-compliance throughout the audit.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- based on our understanding of the company and industry, and through discussions with directors and key management, we identified any specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; and

- we assessed the extent of compliance with these laws and regulations through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries, particularly focused around the year-end, to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates in the notes to the financial statements were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

Matthew Brown (Senior Statutory Auditor)

for and on behalf of Cartwrights

Chartered Accountants and Business Advisors

Statutory Auditor

Regency House

33 Wood Street

Barnet

Hertfordshire

EN5 4BE

22 October 2025

TURNOVER

14,080,472

12,739,861

Cost of sales

(10,803,601

)

(9,893,872

)

GROSS PROFIT

3,276,871

2,845,989

Administrative expenses

(2,655,757

)

(2,279,276

)

OPERATING PROFIT

5

621,114

566,713

Interest receivable and similar income

37,776

1,048

PROFIT BEFORE TAXATION

658,890

567,761

Tax on profit

6

(257,644

)

299,756

PROFIT FOR THE FINANCIAL YEAR

401,246

867,517

PROFIT FOR THE YEAR

401,246

867,517

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

401,246

867,517

FIXED ASSETS

Tangible assets

7

13,768,352

15,054,234

CURRENT ASSETS

Debtors

8

956,840

1,618,779

Cash at bank and in hand

218,354

709,598

1,175,194

2,328,377

CREDITORS

Amounts falling due within one year

9

10,684,663

13,788,004

NET CURRENT LIABILITIES

(9,509,469

)

(11,459,627

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,258,883

3,594,607

PROVISIONS FOR LIABILITIES

11

265,959

2,929

NET ASSETS

3,992,924

3,591,678

CAPITAL AND RESERVES

Called up share capital

12

2,350,000

2,350,000

Retained earnings

13

1,642,924

1,241,678

SHAREHOLDERS' FUNDS

3,992,924

3,591,678

The financial statements were approved by the director and authorised for issue on 22 October 2025 and were signed by:

Z Zheng - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

2,350,000

374,161

2,724,161

Changes in equity

Total comprehensive income

-

867,517

867,517

Balance at 31 December 2023

2,350,000

1,241,678

3,591,678

Changes in equity

Total comprehensive income

-

401,246

401,246

Balance at 31 December 2024

2,350,000

1,642,924

3,992,924

Cash flows from operating activities

Cash generated from operations

1

2,791,463

2,295,684

Other Creditors

-

(1,475,060

)

Tax paid

(130

)

(102,988

)

Net cash from operating activities

2,791,333

717,636

Cash flows from investing activities

Purchase of tangible fixed assets

(503,698

)

(249,674

)

Sale of tangible fixed assets

3,112

-

Inter company loan repayments

(2,819,767

)

-

Interest received

37,776

1,048

Net cash from investing activities

(3,282,577

)

(248,626

)

(Decrease)/increase in cash and cash equivalents

(491,244

)

469,010

Cash and cash equivalents at beginning of year

2

709,598

240,588

Cash and cash equivalents at end of year

2

218,354

709,598

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

31/12/24

31/12/23

£

£

Profit before taxation

658,890

567,761

Depreciation charges

1,786,466

1,467,847

Finance income

(37,776

)

(1,048

)

2,407,580

2,034,560

Decrease/(increase) in trade and other debtors

667,455

(214,187

)

(Decrease)/increase in trade and other creditors

(283,572

)

475,311

Cash generated from operations

2,791,463

2,295,684

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

218,354

709,598

Year ended 31 December 2023

31/12/23

1/1/23

£

£

Cash and cash equivalents

709,598

240,588

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/24

Cash flow

At 31/12/24

£

£

£

Net cash

Cash at bank and in hand

709,598

(491,244

)

218,354

709,598

(491,244

)

218,354

Total

709,598

(491,244

)

218,354

1.	STATUTORY INFORMATION

Winit (UK) 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for providing storage and labelling services to the customers. Sales invoices are raised on a monthly basis.

The company’s policy is to recognise turnover daily when storage services have been provided to the customer. Turnover is calculated based on the quantity and weight of goods in storage.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows:

Short leasehold - 10% straight line

Fixtures and fittings - 33% and 20% straight line

Computer equipment - 33% straight line

Financial instruments

The company has applied the provisions of Section 11 'Basic Financial Instruments' 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.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. The assets of the scheme are held separately from those of the company in an independently administered fund.

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, despite the significant net current liabilities which are due to the large inter - company creditors. The Inter - company creditors are not repayable on demand and the company has backing from other group companies.

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.

4.	EMPLOYEES AND DIRECTORS

31/12/24

31/12/23

£

£

Wages and salaries

2,508,803

2,444,751

Social security costs

235,235

218,150

Other pension costs

28,491

36,726

2,772,529

2,699,627

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

31/12/24

31/12/23

Management

35

45

Admin

2

3

Direct

48

51

85

99

31/12/24

31/12/23

£

£

Director's remuneration

103,990

103,990

5.	OPERATING PROFIT

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

31/12/24

31/12/23

£

£

Other equipment hire

31,627

69,095

Security Fees

348,437

364,226

Depreciation - owned assets

1,786,468

1,467,847

Auditors' remuneration

10,500

10,400

Foreign exchange differences

(39

)

1,050

6.

TAXATION

Analysis of the tax charge/(credit)

The tax charge/(credit) on the profit for the year was as follows:

31/12/24

31/12/23

£

£

Current tax:

UK corporation tax

-

(102,771

)

Corporation tax prior year ad

(81

)

218

Corp tax interest

(5,305

)

-

Total current tax

(5,386

)

(102,553

)

Deferred tax

263,030

(197,203

)

Tax on profit

257,644

(299,756

)

7.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

17,755,328

514,372

138,297

18,407,997

Additions

467,353

22,015

14,330

503,698

Disposals

-

(37,498

)

(24,737

)

(62,235

)

At 31 December 2024

18,222,681

498,889

127,890

18,849,460

DEPRECIATION

At 1 January 2024

2,764,556

477,312

111,895

3,353,763

Charge for year

1,756,045

7,752

22,671

1,786,468

Eliminated on disposal

-

(35,623

)

(23,500

)

(59,123

)

At 31 December 2024

4,520,601

449,441

111,066

5,081,108

NET BOOK VALUE

At 31 December 2024

13,702,080

49,448

16,824

13,768,352

At 31 December 2023

14,990,772

37,060

26,402

15,054,234

8.

DEBTORS

31/12/24

31/12/23

£

£

Amounts falling due within one year:

Other debtors

278

521,969

Tax

108,287

102,771

VAT

434,588

448,500

Prepayments and accrued income

213,687

345,539

756,840

1,418,779

Amounts falling due after more than one year:

Other long term debtors

200,000

200,000

Aggregate amounts

956,840

1,618,779

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade creditors

347,551

2,232

Amounts owed to group undertakings

6,427,872

9,247,641

Social security and other taxes

116,393

73,498

Pension control account

7,000

11,267

Other creditors

3,369,921

3,731,931

Net wages liability

182,249

171,840

Accruals and deferred income

233,677

549,595

10,684,663

13,788,004

10.	LEASING AGREEMENTS

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

31/12/2024

31/12/2023

£

£

Within one year

2,131,200

2,210,919

1 - 5 years

6,384,452

7,438,679

> 5 years

6,263,478

7,307,391

The company leases the following two warehouse and factory facilities.

- St Modwen Developments Limited - The lease runs for a period of 15 years and lease payments are renewed every five years to reflect market rentals.

- Glenfield Storage Solutions Limited -The lease runs for a period of 10 years.

The company also leases production equipment - these leases typically run for a period of 5 years.

11.	PROVISIONS FOR LIABILITIES

31/12/24

31/12/23

£

£

Deferred tax

Accelerated capital allowances

1,238,559

707,634

Tax losses carried forward

(972,600

)

(704,705

)

265,959

2,929

Deferred

tax

£

Balance at 1 January 2024

2,929

Provided during year

263,030

Balance at 31 December 2024

265,959

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

2,350,000

Ordinary Share Capital

£1

2,350,000

2,350,000

13.

RESERVES

Retained

earnings

£

At 1 January 2024

1,241,678

Profit for the year

401,246

At 31 December 2024

1,642,924