REGISTERED NUMBER: 08803022 (England and Wales)

Amelia Knight Holdings Limited

Group Strategic Report, Directors' Report and

Consolidated Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Group Strategic Report

2

Directors' Report

5

Statement of Directors' Responsibilities

7

Independent Auditors' Report

8

Consolidated Income Statement

11

Consolidated Statement of Comprehensive Income

12

Consolidated Statement of Financial Position

13

Company Statement of Financial Position

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Statement of Cash Flows

17

Notes to the Consolidated Statement of Cash Flows

18

Notes to the Consolidated Financial Statements

20

DIRECTORS:

Mr D B Salmon

Mrs L Salmon

Mr D E Salmon

Mr P J Salmon

Miss T L Salmon

Mr M W Salmon

SECRETARY:

Mrs L Salmon

REGISTERED OFFICE:

The Pavilions

Knutsford Business Park

Mobberley Road

Knutsford

Cheshire

WA16 8ZR

REGISTERED NUMBER:

08803022 (England and Wales)

AUDITORS:

SCB (Accountants) Limited

31 Sackville street

Manchester

M1 3LZ

BANKERS:

National Westminster Bank PLC

Spinningfields Square

182 Deansgate

Manchester

M3 3LY

The directors present their strategic report for the year ended 31 December 2024.

BUSINESS REVIEW

Against a backdrop of ongoing global challenges, the board is satisfied with the group's overall strong performance for 2024. We have focused on stability and the careful management of the group's debt and cash flow in preparation for the period ahead. Substantial efforts have been made to streamline processes and generate efficiencies across the business, which we hope will bear fruit in 2025 and beyond. Retained earnings stand at £6.7m as at the balance sheet date and the group has considerable cash reserves to fund its future working capital and expansion projects in the forthcoming year.

Turnover for the year increased by 3% to £36.2m (2023: £35.2m) and gross profit was £13.3m (2023: £11.9m), giving rise to a gross profit margin of 37% (2023: 34%).

Going forward, we intend to continue with the same determination and vision in 2025. The board would like to thank our colleagues at home and in China for their continued loyalty and hard work. It is very much appreciated.

KEY PERFORMANCE INDICATORS

The board of directors monitor the effectiveness of the group's operations by considering various key performance indicators against budgets, forecasts and prior periods.

The group's key financial and other performance indicators during the year were as follows:

Unit

2024

2023

Turnover

£

36,287,681

35,216,600

Gross profit percentage

%

37

34

Operating profit / (loss)

£

454,642

840,860

Profit / (loss) after tax

£

315,271

(149,747

)

Shareholder funds

£

6,448,135

6,771.899

Average employees

No

487

475

OTHER PERFORMANCE INDICATORS

The group's main objective is to provide best of class service to its customer in a highly competitive market. In particular with some big customers certain KPI are agreed and reviewed on a regular basis (like quality of service and punctuality).

On a global basis the group monitors new customers, customer satisfaction, customer loyalty and analyses customer feedback on demand for new product offerings.

The group considers its staff as one of its key assets and strengths. In this context the group monitors its staff turnover, reasons for departures and encourages staff to participate in training.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties facing the group are reviewed in detail by the directors and no material additional risk or uncertainty has been identified other than those detailed below. These risks are broadly accompanied with competitive, operational and financial risks. The directors risk management objectives consist of identifying and monitoring those risks which could have an adverse impact on the company assets, profitability or cash flows. As all sales are based on orders received, the risk of stock obsolescence is mitigated, and with all customer orders are closely monitored, and contract with suppliers maintained through the manufacturing process supply chain factors and risk is also reduced. The group is exposed to financial risks including credit risk, liquidity risk, and market risk, arising from the group's normal business activities. These risks and the group's approach to dealing with them are discussed below.

COMPETITIVE RISK

The group operates in the cosmetics industry. The market remains competitive with price and margin fluctuations which are dependent on relationships with key suppliers. Additionally, the uncertainty surrounding the economy as a direct result of Brexit remains a prominent factor affecting the sector.

OPERATIONAL RISK

The main operational risks relating to the group's operations relate to customer relationships, product quality and the group's ability to supply products that meet customer requirements. The overall risk is mitigated by fostering strong customer relationships, ensuring that orders are delivered to client's specifications and that quality control procedures are in place.

PRICE RISK

The group is exposed to price fluctuations which impact on margins and profitability. The directors manage exposure by closely working with their suppliers and controlling purchasing volumes in order to remain efficient, and by the diversification of products that the group provides.

FOREIGN EXCHANGE RISK

The group has certain balances due to and from customers, suppliers and related parties in other currencies, primarily in Euros and US Dollars, and the group is therefore exposed to currency fluctuations. As a matter of policy, the group chooses not to currently use financial derivatives or currency hedging to manage its exposure. The directors review the exposure to foreign exchange risks and observe currency fluctuations on an ongoing basis to ensure any adverse effect is limited.

CREDIT RISK

The group's principal financial assets are bank balances, trade and other receivables. The group's credit risk is primarily attributable to its trade receivables and balances from the related parties. The group gives significant attention to credit risk and manages the risk though credit control procedures to ensure that credit risk is at an acceptable level for its future operations.

LIQUIDITY RISK

Liquidity risk is the risk that sufficient working capital is not generated by the group's business activities and that in this event suitable sources of funding may not be available. The group ensures that sufficient cash is available to fund ongoing operations and has sufficient cash reserves for its operations.

FINANCIAL INSTRUMENTS

The group has a normal level of exposure to price, credit, liquidity and cash flow risks arising from its trading activities which are conducted in sterling and foreign currencies, for which the group minimise its exposure to exchange rate volatility through internal management processes. The group does not enter into any formally designated hedging arrangements.

IMPACT OF THE WAR IN UKRAINE

In light of the war in Ukraine which commenced on 24 February 2022, the group has considered whether any adjustments are required to reported amounts in the financial statements. The group does not have any operations in Ukraine or Russia, but does have trading relationships with countries which border Ukraine. The group is therefore not directly affected by trading restrictions or sanctions, but could be affected in future by possible wider macroeconomic consequences should the situation develop further. This could include an increase in domestic inflation from supply chain disruption, commodity shortages or commodity price increases affecting cashflows, or changes in market discount rates and valuations.

FUTURE DEVELOPMENTS

We are well positioned with the stronger foundations built over 2024. We are continuing to grow our own-brand business and we will continue to invest in, develop, and market these brands. Our plan is to prepare for capital investment during 2025 in our factories in China and the UK.

We are currently in the process of moving to a bigger factory in China, which will allow us to manufacture a wider range of goods.

SECTION 172(1) STATEMENT

The directors are aware of their duty under s.172 of the Companies Act 2006 and consider that they have fulfilled their individual and collective duty to act in the way they would consider, in good faith, would be most likely to promote the success of the group for the benefit of its members as a whole and, in doing so, to have regard (amongst other matters) to:

(a) the likely consequences of any decision in the long term;

(b) the interests of the group's employees;

(c) the need to foster the group's business relationships with suppliers, customers and others; (d) the impact of the group's operations on the community and the environment;

(e) the desirability of the group maintaining a reputation for high standards of business conduct; and

(f) the need to act fairly as between members of the group.

EMPLOYEES

The directors are committed to promoting an engaged and healthy workforce, recognising the importance of both physical and mental wellbeing. They engage with team members through regular team meetings and an open-door policy, which promotes strong communication channels through the business.

They are committed to equal opportunities in employment and creating a workplace where everyone is treated with fairness, dignity and respect. It is their policy to ensure that all employees are treated no less favourably on the grounds of disability and are not subject to unlawful discrimination. This policy applies to all aspects of employment including recruitment and selection processes, opportunities for training, development and promotion, and terms and conditions of employment. Through its policies, the group ensures that entry into, and progression within, the group is based solely on personal ability and competence to meet set job criteria.

SUPPLIERS

The directors seek to ensure that suppliers align with the group's values and the high standards of conduct that is set. The directors value the loyalty and commitment of its suppliers and commits to honouring agreements with them, including paying to agreed terms.

CUSTOMERS

The directors work tirelessly to ensure interactions with our customers are trusting, effective and considerate and that there is a synergy of strategic objectives, culture and values.

ENVIRONMENT

The directors are committed to identifying, managing, and minimising the environmental impact of business operations and ensure compliance with all applicable environmental legislation and to strive to use pollution prevention and environmental best practices in all areas.

COMMUNITY

With regards to impact on the community, the group is committed to making a positive social and economic impact and understanding and managing any negative impacts of its business operations. In addition, the group seeks to make a positive social contribution through the services provided to customers.

ON BEHALF OF THE BOARD:

Mr D B Salmon - Director

30 October 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the group during the year under review was the design, manufacture and worldwide distribution of cosmetics and related products.

DIVIDENDS

Particulars of recommended dividends are detailed in note 13 to the financial statements.

DIRECTORS

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

Mr D B Salmon

Mrs L Salmon

Mr D E Salmon

Mr P J Salmon

Miss T L Salmon

Other changes in directors holding office are as follows:

Mr M W Salmon was appointed as a director after 31 December 2024 but prior to the date of this report.

INFORMATION INCLUDED IN THE STRATEGIC REPORT

As permitted by paragraph 1A of Schedule 7 to the Large and Medium sized Companies and Groups (Accounts and Reports) Regulations 2008, certain matters which are required to be disclosed in the Director's Report have been omitted as they are included in the Strategic Report on page 2. These matters relate to the business review, principal risks and uncertainties, financial instruments and future developments.

EMPLOYMENT OF DISABLED PERSONS

The group gives full consideration to applications for employment from disabled persons where the candidate's particular aptitudes and abilities are consistent with adequately meeting the requirements of the job. Opportunities are available to disabled employees for training, career development and promotion. Where existing employees become disabled, it is the group's policy to provide continuing employment wherever practicable in the same or an alternative position and to provide appropriate training to achieve this aim.

ENGAGEMENT WITH EMPLOYEES

The group operates a framework for employee information and consultation. Amongst other things, regular meetings are held between local management and employees to allow a free flow of information and ideas.

CHARITABLE CONTRIBUTIONS

Total donations and sponsorships made during the year to registered charities and other good causes amounted to £31,515 (2023: £66,771). As in previous years, this has included foodbanks, charities providing protection for vulnerable people fleeing abuse and violence, as well as young adults struggling after having left the care system. Some funds were used to send underprivileged children and adults, mainly fleeing abuse, on seaside days out in the summer months and to Pantomime outings to the theatre during the Christmas period. It is our intention to continue this support over the coming years and to expand this to other similar providers of help and protection.

ETHICS AND SUSTAINABILITY

We strive to meet the highest ethical standards. We are members of Sedex and have regular SMETA audits (Sedex Members Ethical Trade Audit), which focus on standards of labour, health and safety, environmental issues and business ethics. Customers are welcomed to audit and approve our factories if so required. We are accredited to the following standards - ISO:9001 Quality Management System and ISO:4001 - Environmental Management System. We aim to constantly improve our sustainability practices and we are proud to use RSPO (sustainably sourced) Palm Oil and biodegradable Bio-Glitter in our products. We also use biodegradable plastic bags and DHL Go Green for our UK deliveries. We are proud to be a certified cruelty-free company. We have never tested on animals and will never do so.

GOING CONCERN

Based on the current position of the company, the borrowing facilities available, as well as future orders and forecasts that have been prepared, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of signing the financial statements and therefore have prepared the financial statements on a going concern basis.

RESEARCH AND DEVELOPMENT

The group conducts research and development into improving its manufacturing processes and the development of new products. The amount of expenditure incurred during the year and charged to the Income Statement in respect of this was £285,116 (2023: £812,338).

DISCLOSURE OF INFORMATION TO THE AUDITOR

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

REAPPOINTMENT OF AUDITORS

Pursuant to Section 487 of the Companies Act 2006, the auditor will be deemed to be reappointed and SCB (Accountants) Ltd will therefore continue in office.

ON BEHALF OF THE BOARD:

Mr D B Salmon - Director

30 October 2025

The directors are responsible for preparing the Group 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 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;

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's 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.

Opinion

We have audited the financial statements of Amelia Knight Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 31 December 2024 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, the Directors' Report and the Statement of Directors' Responsibilities, 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 Group 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 Group 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 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 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 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 seven, 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.

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

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We discussed with the Directors the policies and procedures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regulations, and remained alert to any indications of non-compliance.

During the audit we focussed on laws and regulations which could reasonably be expected to give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, UK tax legislation and distributable profits legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management.

Our procedures in relation to fraud included but were not limited to: inquires of management whether they have any knowledge of any actual, suspected or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgements in accounting estimates. We also addressed the risk of management override of internal controls, including testing journals and appropriateness of other entries in the nominal ledger; reviewing transactions around the end of the reporting period; and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

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 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.

Jeffrey Bor Bsc FCA (Senior Statutory Auditor)

for and on behalf of SCB (Accountants) Limited

31 Sackville street

Manchester

M1 3LZ

30 October 2025

TURNOVER

4

36,287,681

35,216,600

Cost of sales

(22,889,092

)

(23,219,669

)

GROSS PROFIT

13,398,589

11,996,931

Administrative expenses

(12,947,543

)

(11,169,534

)

451,046

827,397

Other operating income

3,596

13,463

OPERATING PROFIT

7

454,642

840,860

Interest receivable and similar income

9

776

6,610

455,418

847,470

Loss of financial assets at fair value

-

(380,000

)

455,418

467,470

Interest payable and similar expenses

10

(75,361

)

(185,390

)

PROFIT BEFORE TAXATION

380,057

282,080

Tax on profit

11

(64,786

)

(431,827

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

315,271

(149,747

)

Profit/(loss) attributable to:

Owners of the parent

315,271

(149,747

)

PROFIT/(LOSS) FOR THE YEAR

315,271

(149,747

)

OTHER COMPREHENSIVE INCOME

Foreign currency translation

(39,035

)

(238,807

)

Income tax relating to other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

(39,035

)

(238,807

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

276,236

(388,554

)

Total comprehensive income attributable to:

Owners of the parent

276,236

(388,554

)

FIXED ASSETS

Intangible assets

14

15,866

5,866

Tangible assets

15

1,656,876

1,589,964

Investments

16

-

-

Investment property

17

1,270,000

1,270,000

2,942,742

2,865,830

CURRENT ASSETS

Stocks

18

5,140,696

7,158,773

Debtors

19

8,574,135

7,141,104

Cash at bank

539,496

4,183,364

14,254,327

18,483,241

CREDITORS

Amounts falling due within one year

20

(10,372,376

)

(13,777,747

)

NET CURRENT ASSETS

3,881,951

4,705,494

TOTAL ASSETS LESS CURRENT LIABILITIES

6,824,693

7,571,324

CREDITORS

Amounts falling due after more than one year

21

-

(390,423

)

PROVISIONS FOR LIABILITIES

25

(376,558

)

(409,002

)

NET ASSETS

6,448,135

6,771,899

CAPITAL AND RESERVES

Called up share capital

26

100

100

Foreign currency translation

27

(284,064

)

(245,029

)

Retained earnings

27

6,732,099

7,016,828

SHAREHOLDERS' FUNDS

6,448,135

6,771,899

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

Mr D B Salmon - Director

FIXED ASSETS

Intangible assets

14

-

-

Tangible assets

15

-

-

Investments

16

271,022

271,022

Investment property

17

1,270,000

1,270,000

1,541,022

1,541,022

CURRENT ASSETS

Debtors

19

514,731

250,000

Cash at bank

25,223

134,304

539,954

384,304

CREDITORS

Amounts falling due within one year

20

(580,915

)

(880,454

)

NET CURRENT LIABILITIES

(40,961

)

(496,150

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,500,061

1,044,872

CREDITORS

Amounts falling due after more than one year

21

-

(77,923

)

PROVISIONS FOR LIABILITIES

25

(113,081

)

(113,081

)

NET ASSETS

1,386,980

853,868

CAPITAL AND RESERVES

Called up share capital

26

100

100

Retained earnings

27

1,386,880

853,768

SHAREHOLDERS' FUNDS

1,386,980

853,868

Company's profit for the financial year

1,133,112

1,651,709

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

Mr D B Salmon - Director

Called up

Foreign

share

Retained

currency

Non-distributable

Total

capital

earnings

translation

reserve

equity

£

£

£

£

£

Balance at 1 January 2023

100

8,656,575

(6,222

)

-

8,650,453

Changes in equity

Dividends

-

(1,490,000

)

-

-

(1,490,000

)

Total comprehensive income

-

(149,747

)

(238,807

)

-

(388,554

)

Balance at 31 December 2023

100

7,016,828

(245,029

)

-

6,771,899

Changes in equity

Dividends

-

(600,000

)

-

-

(600,000

)

Total comprehensive income

-

315,271

(39,035

)

-

276,236

Balance at 31 December 2024

100

6,732,099

(284,064

)

-

6,448,135

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

692,059

692,159

Changes in equity

Profit for the year

-

1,651,709

1,651,709

Total comprehensive income

-

1,651,709

1,651,709

Dividends

-

(1,490,000

)

(1,490,000

)

Balance at 31 December 2023

100

853,768

853,868

Changes in equity

Profit for the year

-

1,133,112

1,133,112

Total comprehensive income

-

1,133,112

1,133,112

Dividends

-

(600,000

)

(600,000

)

Balance at 31 December 2024

100

1,386,880

1,386,980

Cash flows from operating activities

Cash generated from operations

1

1,721,444

4,427,772

Tax paid

(250,000

)

(55,717

)

Net cash from operating activities

1,471,444

4,372,055

Cash flows from investing activities

Purchase of intangible fixed assets

(145,414

)

(33,711

)

Purchase of tangible fixed assets

(498,543

)

(107,452

)

Sale of tangible fixed assets

253,260

233

Acquisition of subsidiaries

1,054,177

-

Interest received

676

6,610

Net cash from investing activities

664,156

(134,320

)

Cash flows from financing activities

Share issue

(1,054,177

)

-

Proceeds from borrowings

(2,190,891

)

(1,116,239

)

Interest paid

(75,362

)

(185,390

)

Equity dividends paid

(600,000

)

(1,490,000

)

Net cash from financing activities

(3,920,430

)

(2,791,629

)

(Decrease)/increase in cash and cash equivalents

(1,784,830

)

1,446,106

Cash and cash equivalents at beginning of year

2

2,324,326

878,220

Cash and cash equivalents at end of year

2

539,496

2,324,326

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

2024

2023

£

£

Profit before taxation

380,057

282,080

Depreciation charges

338,197

371,416

Profit on disposal of fixed assets

(24,412

)

(107

)

Changes in fair value of investment

-

380,000

Currency translation difference

(39,035

)

(238,807

)

Finance costs

75,361

185,390

Finance income

(776

)

(6,610

)

729,392

973,362

Decrease/(increase) in stocks

2,018,427

(1,327,626

)

(Increase)/decrease in trade and other debtors

(4,764,233

)

3,342,791

Increase in trade and other creditors

3,737,858

1,439,245

Cash generated from operations

1,721,444

4,427,772

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

539,496

4,183,364

Bank overdrafts

-

(1,859,038

)

539,496

2,324,326

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

4,183,364

2,584,261

Bank overdrafts

(1,859,038

)

(1,706,041

)

2,324,326

878,220