ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 09982695

THE MONMORE GROUP LTD

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

THE MONMORE GROUP LTD

COMPANY INFORMATION

Directors	Sukhdev Mehta
	Santosh Mehta
	Sanjay Mehta
	Aniel Mehta


Registered number	09982695


Registered office	Unit 7 Phoenix Industrial Estate
	Loxdale Street
	Bilston
	West Midlands
	WV14 0PR


Independent auditors	Lancaster Clements Limited
	Chartered Certified Accountants
	Stanley House
	27 Wellington Road
	Bilston
	West Midlands
	WV14 6AH


Bankers	Barclays Bank
	Queen Square
	Wolverhampton
	West Midlands
	WV1 1DS

THE MONMORE GROUP LTD

CONTENTS

	Page
Group strategic report	1
Directors' report	2 - 3
Independent auditors' report	4 - 7
Consolidated statement of comprehensive income	8 - 9
Consolidated statement of financial position	10 - 11
Company statement of financial position	12
Consolidated statement of changes in equity	13 - 14
Company statement of changes in equity	15
Consolidated statement of cash flows	16 - 17
Consolidated analysis of net debt	18
Notes to the financial statements	19 - 37

THE MONMORE GROUP LTD

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 31 MAY 2025

Introduction

The principal activity of The Monmore Group Limited is that if investment and management of its subsidiary undertaking. The principal activity of the subsidiary undertakings Monmore Confectionery (Midlands) Limited, Superbweets Limited and Corolldraw Limited is that of confectionery wholesalers.

Business review

All of the income of the parent company is derived from trading through the subsidiary undertakings. On 31 December 2024 the subsidiary Corolldraw Limited ceased to trade. The Group turnover has increased by £2,336,603 from £20,898,065 to £23,234,668. The gross profit margin has seen a decrease. The Group has no defined key performance indicators other than turnover, gross profit, trading profit and cash. Cash flow has been identified as the principal risk affecting the Group, however, there are sufficent funds currently availbale within the businesses.
Current trading and open order levels year to date, along with the level of working capital available, gives the directors confidence in the company's long-term future. The overall trading outlook for the next financial year is positive.

Principal risks and uncertainties

The company has financial risks and seeks to minimise these by incorporating and rigorously implementing controls into key functions as part of the normal business operations.
Management review sale prices on a continuous basis to account for fluctuations in costs in order to minimise the risk of gross margin erosion, whilst also managing procurement to take advantage of fluctuating comodity prices at the lowest levels.
This policy is supporting by have the liquid reserves to invest in stock whilst commodity prices are at their lowest. It is therefore recognised that cash reserves and cash flows are the principle risks facing the business.

Financial key performance indicators

The Group's key performance indicators continue to be turnover, gross profit, operating profit and cash, which have all met the desired performance levels.
There has been an increase in turnover in the year due to the continued growth in the group's online sales market however there has been a decrease in the gross profit margin due to the reduced margins available in this sector.. On a year to year basis turnover increased by 11.2% and the gross profit margin has decreased.

Other key performance indicators

There are no key performance indicators.

This report was approved by the board on 9 October 2025 and signed on its behalf.

Sukhdev Mehta

Director

Page 1

THE MONMORE GROUP LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MAY 2025

The directors present their report and the financial statements for the year ended 31 May 2025.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Group's financial statements and then apply them consistently;

∙make judgments 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 Group 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 the Group and to 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.

Results and dividends

The profit for the year, after taxation, amounted to £58,845 (2024 - £786,447).

The directors do not propose to recommend payment of a dividend.

Directors

The directors who served during the year were:

Sukhdev Mehta

Santosh Mehta

Sanjay Mehta

Aniel Mehta

Future developments

The directors consider that there are no future developments of the company required to be disclosed.

Page 2

THE MONMORE GROUP LTD

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

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 and the Group's auditors 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 and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

The auditors, Lancaster Clements Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 9 October 2025 and signed on its behalf.

Santosh Mehta

Director

Page 3

THE MONMORE GROUP LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE MONMORE GROUP LTD

Opinion

We have audited the financial statements of The Monmore Group Ltd (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 May 2025, which comprise the Consolidated statement of comprehensive income, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, 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's affairs as at 31 May 2025 and of the Group's profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 or 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.

Page 4

THE MONMORE GROUP LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE MONMORE GROUP LTD (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.

Opinion 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 in relation to which 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 Directors' responsibilities statement set out on page 2, 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 is 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.

Page 5

THE MONMORE GROUP LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE MONMORE GROUP LTD (CONTINUED)

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 Group 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:

Identifying and assessing potential risks related to irregularities
We obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, tax legislation and regulations relating to the employed workforce.
In assessing risks of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
- The clients evaluation of compliance with laws and regulations and whether they were aware of any instances of none compliance, along with the measures in place to mitigate any such instances.
- Methods in place to detect and respond to the risk of fraud and whether there was any actual, suspected or alleged fraud, along with controls established to mitigate such risks.
- Where fraud might occur in the financial statements and any potential indicators of fraud.
As a result of those procedures we considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential being in relation to, stock pilferage or misappropriation,
management override of controls and transactions outside the normal course of business, particularly with
related parties.
Audit response to risks identified
Our procedures to respond to the risks identified included the following:
- Testing of material journal entries, paying particular attention to the period immediately prior to and following the reporting date.
- Evaluation of the business rationale behind transactions made between related parties that are unusual or outside the normal course of business.
- An assessment of whether the judgements made in making accounting estimates are indicative of a potential bias.
- Making enquiries of management concerning actual or potential litigation and claims.
We have designed our procedures to best identify the likelihood or occurrence of irregularities, whether or not arising due to fraud. However, it is accepted that there is an inherent difficulty in detecting irregularities and our findings are subject to the timing and extent of the audit procedures performed.

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.

Page 6

THE MONMORE GROUP LTD

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE MONMORE GROUP LTD (CONTINUED)

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.

Mark Antony Cupitt (Senior statutory auditor)

for and on behalf of

Lancaster Clements Limited

Chartered Certified Accountants

Stanley House

27 Wellington Road

Bilston

West Midlands

WV14 6AH

9 October 2025

Page 7

THE MONMORE GROUP LTD

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MAY 2025

	Continuing operations	Discontin'd operations	Total	Continuing operations	Discontinued operations	Total
	2025	2025	2025	2024	2024	2024
Note	£	£	£	£	£	£


Turnover	4	21,650,907	1,605,582	23,256,489	20,648,051	1,131,317	21,779,368
Cost of sales		(17,488,278)	(1,399,099)	(18,887,377)	(16,388,051)	(688,626)	(17,076,677)
Gross profit		4,162,629	206,483	4,369,112	4,260,000	442,691	4,702,691
Administrative expenses		(4,040,126)	(228,173)	(4,268,299)	(3,435,256)	(229,555)	(3,664,811)
Other operating income	5	4,000	-	4,000	1,500	-	1,500
Fair value movements		-	-	-	17,316	-	17,316
Operating profit	6	126,503	(21,690)	104,813	843,560	213,136	1,056,696
Income from fixed assets investments		-	-	-	1,891	-	1,891
Amounts written off investments		-	(3,105)	(3,105)	-	-	-
Interest receivable and similar income	11	26,266	-	26,266	31,759	-	31,759
Interest payable and similar expenses	12	-	-	-	(276)	-	(276)
Profit before taxation		152,769	(24,795)	127,974	876,934	213,136	1,090,070
Tax on profit	13	(122,129)	53,000	(69,129)	(252,859)	(50,764)	(303,623)
Profit for the financial year		30,640	28,205	58,845	624,075	162,372	786,447


Total comprehensive income for the year				58,845			786,447

Profit for the year attributable to:

Page 8

THE MONMORE GROUP LTD

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

	Continuing operations	Discontin'd operations	Total	Continuing operations	Discontinued operations	Total
	2025	2025	2025	2024	2024	2024
Note	£	£	£	£	£	£

Owners of the parent Company		(16,802)	75,647	58,845	670,397	116,050	786,447
		(16,802)	75,647	58,845	670,397	116,050	786,447

Total comprehensive income for the year attributable to:
Owners of the parent Company	58,845	786,447
	58,845	786,447

The notes on pages 19 to 37 form part of these financial statements.

Page 9

THE MONMORE GROUP LTD

REGISTERED NUMBER: 09982695

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 MAY 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	16		263,489		556,330
Tangible assets	17		641,234		745,670
			904,723		1,302,000
Current assets
Stocks	19	3,002,698		2,969,274
Debtors: amounts falling due within one year	20	2,971,502		3,068,644
Current asset investments	21	-		3,105
Cash at bank and in hand	22	1,523,902		1,099,078
		7,498,102		7,140,101
Creditors: amounts falling due within one year	23	(3,178,409)		(3,165,289)
Net current assets			4,319,693		3,974,812
Total assets less current liabilities			5,224,416		5,276,812
Creditors: amounts falling due after more than one year	24		-		(6,358)
Provisions for liabilities
Deferred taxation	25	(132,657)		(156,275)
			(132,657)		(156,275)
Net assets excluding pension asset			5,091,759		5,114,179
Net assets			5,091,759		5,114,179

Capital and reserves
Called up share capital	26	100	100
Capital redemption reserve		100	100
Profit and loss account		5,091,559	5,113,979
Equity attributable to owners of the parent Company		5,091,759	5,114,179
		5,091,759	5,114,179

Page 10

THE MONMORE GROUP LTD

REGISTERED NUMBER: 09982695

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MAY 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2025.

Sukhdev Mehta

Director

The notes on pages 19 to 37 form part of these financial statements.

Page 11

THE MONMORE GROUP LTD

REGISTERED NUMBER: 09982695

COMPANY STATEMENT OF FINANCIAL POSITION

AS AT 31 MAY 2025

		2025		2024
Note		£		£

Fixed assets
Investments	18		333,776		457,308
			333,776		457,308
Current assets
Debtors: amounts falling due within one year	20	2,422,221		2,077,762
Cash at bank and in hand	22	43,591		119,829
		2,465,812		2,197,591
Creditors: amounts falling due within one year	23	(356,183)		(7,590)
Net current assets			2,109,629		2,190,001
Total assets less current liabilities			2,443,405		2,647,309


Net assets excluding pension asset			2,443,405		2,647,309
Net assets			2,443,405		2,647,309

Capital and reserves
Called up share capital	26		100		100
Capital redemption reserve			100		100
Profit and loss account brought forward		2,647,109		2,451,084
Loss/(profit) for the year		(122,639)		265,512
Other changes in the profit and loss account		(81,265)		(69,487)
Profit and loss account carried forward			2,443,205		2,647,109
			2,443,405		2,647,309

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 October 2025.

Sukhdev Mehta

Director

The notes on pages 19 to 37 form part of these financial statements.

Page 12

THE MONMORE GROUP LTD

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MAY 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Equity attributable to owners of parent Company	Total equity
	£	£	£	£	£
At 1 June 2024	100	100	5,113,979	5,114,179	5,114,179
Comprehensive income for the year
Profit for the year	-	-	58,845	58,845	58,845
Other comprehensive income for the year	-	-	-	-	-
Total comprehensive income for the year	-	-	58,845	58,845	58,845
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(81,265)	(81,265)	(81,265)
Total transactions with owners	-	-	(81,265)	(81,265)	(81,265)
At 31 May 2025	100	100	5,091,559	5,091,759	5,091,759

The notes on pages 19 to 37 form part of these financial statements.

Page 13

THE MONMORE GROUP LTD

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MAY 2024

	Called up share capital	Capital redemption reserve	Profit and loss account	Equity attributable to owners of parent Company	Total equity
	£	£	£	£	£
At 1 June 2023	100	100	4,397,019	4,397,219	4,397,219
Comprehensive income for the year
Profit for the year	-	-	786,447	786,447	786,447
Other comprehensive income for the year	-	-	-	-	-
Total comprehensive income for the year	-	-	786,447	786,447	786,447
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(69,487)	(69,487)	(69,487)
Total transactions with owners	-	-	(69,487)	(69,487)	(69,487)
At 31 May 2024	100	100	5,113,979	5,114,179	5,114,179

The notes on pages 19 to 37 form part of these financial statements.

Page 14

THE MONMORE GROUP LTD

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MAY 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 June 2023	100	100	2,451,084	2,451,284
Comprehensive income for the year
Profit for the year	-	-	265,512	265,512
Other comprehensive income for the year	-	-	-	-
Total comprehensive income for the year	-	-	265,512	265,512
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(69,487)	(69,487)
Total transactions with owners	-	-	(69,487)	(69,487)

At 1 June 2024	100	100	2,647,109	2,647,309
Comprehensive income for the year
Loss for the year	-	-	(122,639)	(122,639)
Other comprehensive income for the year	-	-	-	-
Total comprehensive income for the year	-	-	(122,639)	(122,639)
Contributions by and distributions to owners
Dividends: Equity capital	-	-	(81,265)	(81,265)
Total transactions with owners	-	-	(81,265)	(81,265)
At 31 May 2025	100	100	2,443,205	2,443,405

The notes on pages 19 to 37 form part of these financial statements.

Page 15

THE MONMORE GROUP LTD

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MAY 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	58,845	786,447
Adjustments for:
Amortisation of intangible assets	66,546	63,486
Depreciation of tangible assets	181,317	149,806
Impairments of intangible assets	257,534	-
Loss on disposal of tangible assets	25,329	14,077
Interest paid	-	276
Interest received	(26,266)	(33,650)
Taxation charge	69,129	303,623
(Increase) in stocks	(33,425)	(1,226,376)
Decrease/(increase) in debtors	146,140	(92,916)
Increase in creditors	78,885	126,402
Net fair value losses/(gains) recognised in P&L	-	(17,316)
Corporation tax (paid)	(194,875)	(316,515)
Net cash generated from operating activities	629,159	(242,656)

Cash flows from investing activities
Purchase of intangible fixed assets	(31,239)	(50,007)
Purchase of tangible fixed assets	(102,209)	(590,509)
Sale of tangible fixed assets	-	27,000
Sale of short-term unlisted investments	-	535,437
Interest received	26,267	31,758
Purchase of Subsidiary (net of cash disposed)	-	(292,972)
Dividends received	-	1,891
Net cash from investing activities	(107,181)	(337,402)
Cash flows from financing activities
Repayment of loans	(6,358)	(33,321)
Repayment of other loans	(6,031)	-
Repayment of/new finance leases	(3,500)	-
Dividends paid	(81,265)	(69,487)
Interest paid	-	(276)
Net cash used in financing activities	(97,154)	(103,084)
Net increase/(decrease) in cash and cash equivalents	424,824	(683,142)
Cash and cash equivalents at beginning of year	1,099,078	1,782,220

Page 16

THE MONMORE GROUP LTD

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2025

		2025	2024
		£	£

Cash and cash equivalents at the end of year	1,523,902	1,099,078

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	1,523,902	1,099,078
	1,523,902	1,099,078

The notes on pages 19 to 37 form part of these financial statements.

Page 17

THE MONMORE GROUP LTD

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 31 MAY 2025


At 1 June 2024	Cash flows	At 31 May 2025
£	£	£

Cash at bank and in hand	1,099,078	424,824	1,523,902
Debt due after 1 year	(6,358)	6,358	-
Debt due within 1 year	(6,031)	6,031	-
Finance leases	(3,500)	3,500	-
	1,083,189	440,713	1,523,902

The notes on pages 19 to 37 form part of these financial statements.

Page 18

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1.	General information

The company is registered in England and Wales. The company's registered office is Unit 7 Phoenix Industrial Estate, Loxdale Street, Bilston, West Midlands, WV14 0PR. The principal activity of the company is that of an investment holding company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income statement in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated income statement from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2014.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 19

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.8

Pensions

Defined contribution pension plan

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

The contributions are recognised as an expense in profit or loss 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 Group in independently administered funds.

Page 20

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated income statement over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.11

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 bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 21

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.11

Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Short-term leasehold property	-	straight line over the life of the lease
Plant and machinery	-	25% reducing balance/25% straight line
Motor vehicles	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance/25% straight line
Office equipment	-	33% straight line

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.

2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Consolidated income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 22

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.15

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.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.16

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.

2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.18

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Group's Statement of financial position when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of

Page 23

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

2.Accounting policies (continued)

2.18

Financial instruments (continued)

financial instruments.

2.19

Dividends

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

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

To be able to prepare financial statements in accordance with FRS102, The Monmore Grop Ltd must make certain estimates and judgments that have an impact on the policies and the amounts reported in the annual accounts. The estimates and judgments are based on historical experiences and other factors including expectations of future events that are believed to be reasonable at the time such estimates and judgments are made. Actual experience may vary from these estimates. The estimates and assumptions which have the most significant risk of causing a material adjustment to the carrying amounts of assets and liabilities are discussed below:
Depreciation and amortisation:
The Monmore Group Ltd accounts for depreciation and amortisation in accordance with FRS102. The depreciation and amortisation expense is the recognition of the decline in the value of the assets and allocation of the cost of the asset over the periods in which the asset will be used. Judgments are made on the estimated useful life of the assets which are regularly reviewed to reflect the changing environment.
Impairment of stocks
Certain factors could affect the realisable value of the company's stocks, including customer demand and market conditions. The company considers historic usage, expected demand, anticipated sales price, effect of new product introductions, product obsolscence and other factors when evaluating the value of stock.

Turnover

The whole of the turnover is attributable to the company's principal business activity.

Analysis of turnover by country of destination:

					2025	2024
					£	£

United Kingdom	22,965,733	21,767,910
Rest of the world	290,756	11,458
	23,256,489	21,779,368

Page 24

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

5.	Other operating income
		2025	2024
		£	£

Sundry income	4,000	1,500
	4,000	1,500

Exchange differences

28,825

(12,357)

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements

23,000

Page 25

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

8.	Employees
	Staff costs, including directors' remuneration, were as follows:

		Group	Group
		2025	2024
		£	£


Wages and salaries	1,792,679	1,543,201
Social security costs	121,821	92,170
Cost of defined contribution scheme	223,115	269,064
	2,137,615	1,904,435

The average monthly number of employees, including the directors, during the year was as follows:

	Group	Group	Company	Company
	2025	2024	2025	2024
	No.	No.	No.	No.

Directors	4	4	-	4
Staff	54	53	-	-

	58	57	0	4

9.	Directors' remuneration
		2025	2024
		£	£

Directors' emoluments	54,827	53,495
Group contributions to defined contribution pension schemes	200,000	250,000
	254,827	303,495

During the year retirement benefits were accruing to 2 directors (2024 - 4) in respect of defined contribution pension schemes.

Page 26

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

10.	Income from investments
		2025	2024
		£	£

Dividends received from unlisted investments	-	1,891
	-	1,891

11.	Interest receivable
		2025	2024
		£	£

	Other interest receivable	26,266	31,759
		26,266	31,759

12.	Interest payable and similar expenses
		2025	2024
		£	£

	Bank interest payable	-	276
		-	276

Page 27

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Corporation tax
Current tax on profits for the year	95,442	208,455
Adjustments in respect of previous periods	(2,695)	(2,033)
	92,747	206,422

Total current tax	92,747	206,422

Deferred tax
Origination and reversal of timing differences	(23,618)	97,201
Total deferred tax	(23,618)	97,201


		69,129	303,623

Profit on ordinary activities before tax

127,974

1,090,070

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	31,994	272,518
Effects of:
Adjustments to tax charge in respect of prior periods	(2,695)	(2,033)
Other differences leading to an increase (decrease) in the tax charge	39,830	33,138
Total tax charge for the year	69,129	303,623

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 28

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

14.	Dividends
		2025	2024
		£	£

Ordinary 'A' shares	500	1,000
Ordinary 'B' shares	500	1,000
Ordinary 'C' shares	80,265	67,487
	81,265	69,487

15.	Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income statement in these financial statements. The loss after tax of the parent Company for the year was £122,639 (2024 - profit £265,512).

16.	Intangible assets
	Group and Company

		Goodwill
		£
	Cost
	At 1 June 2024	654,948
	Additions	31,239
	At 31 May 2025	686,187
	Amortisation
	At 1 June 2024	98,618
	Charge for the year on owned assets	66,546
	Impairment charge	257,534
	At 31 May 2025	422,698
	Net book value
	At 31 May 2025	263,489
	At 31 May 2024	556,330

Page 29

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

16.Intangible assets (continued)

Page 30

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

17.	Tangible fixed assets
	Group

	Short-term leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Office equipment
	£	£	£	£	£
Cost or valuation
At 1 June 2024	21,457	623,794	351,929	174,202	5,583
Additions	-	61,959	40,250	-	-
Disposals	-	-	(2,831)	(20,822)	(5,583)
At 31 May 2025	21,457	685,753	389,348	153,380	-
Depreciation
At 1 June 2024	21,457	334,114	59,066	16,192	466
Charge for the year on owned assets	-	65,620	78,888	36,157	651
Disposals	-	-	(708)	(2,082)	(1,117)
At 31 May 2025	21,457	399,734	137,246	50,267	-
Net book value
At 31 May 2025	-	286,019	252,102	103,113	-
At 31 May 2024	-	289,680	292,863	158,010	5,117

Page 31

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

17.Tangible fixed assets (continued)

		Total
		£
	Cost or valuation
	At 1 June 2024	1,176,965
	Additions	102,209
	Disposals	(29,236)
	At 31 May 2025	1,249,938
	Depreciation
	At 1 June 2024	431,295
	Charge for the year on owned assets	181,316
	Disposals	(3,907)
	At 31 May 2025	608,704
	Net book value
	At 31 May 2025	641,234
	At 31 May 2024	745,670

Page 32

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

18.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 June 2024	457,308
	At 31 May 2025	457,308
	Impairment
	Charge for the period	123,532
	At 31 May 2025	123,532
	Net book value
	At 31 May 2025	333,776
	At 31 May 2024	457,308

Subsidiary undertakings
The following were subsidiary undertakings of the Company:
Name	Class of shares	Holding

	Monmore Confectionery (Midlands) Limited	Ordinary	100%
	Corolldraw Limited	Ordinary	100%

The aggregate of the share capital and reserves as at 31 May 2025 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
Name	Aggregate of share capital and reserves	Profit/(Loss)
	£	£

	Monmore Confectionery (Midlands) Limited	2,931,368	409,056
	Corolldraw Limited	333,775	159,337

Page 33

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

19.	Stocks
		Group	Group
		2025	2024
		£	£

Finished goods and goods for resale	3,002,698	2,969,274
	3,002,698	2,969,274

The difference between purchase price or production cost of stocks and their replacement cost is not material.

20.

Debtors

Group	Group	Company	Company
2025	2024	2025	2024
£	£	£	£


Trade debtors	1,319,656	1,302,746	-	-
Amounts owed by group undertakings	-	-	957,030	484,427
Other debtors	1,521,962	1,627,345	1,465,191	1,593,335
Prepayments and accrued income	129,884	138,553	-	-
	2,971,502	3,068,644	2,422,221	2,077,762

21.	Current asset investments
		Group	Group
		2025	2024
		£	£

Unlisted investments	-	3,105
	-	3,105

22.	Cash and cash equivalents
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Cash at bank and in hand	1,523,902	1,099,078	43,591	119,829
	1,523,902	1,099,078	43,591	119,829

Page 34

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

23.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Other loans	-	6,031	-	-
Trade creditors	2,754,340	2,393,911	-	-
Amounts owed to group undertakings	-	-	350,000	-
Corporation tax	209	53,340	209	340
Other taxation and social security	325,022	470,692	-	-
Obligations under finance lease and hire purchase contracts	-	3,500	-	-
Other creditors	18,955	145,155	5,974	7,250
Accruals and deferred income	79,883	92,660	-	-
	3,178,409	3,165,289	356,183	7,590

24.	Creditors: Amounts falling due after more than one year
		Group	Group
		2025	2024
		£	£

Bank loans	-	6,358
	-	6,358

25.	Deferred taxation
	Group

	2025	2024
	£	£

At beginning of year	156,275	59,074
Charged to profit or loss	(23,618)	97,201
At end of year	132,657	156,275

Page 35

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

25.Deferred taxation (continued)

Company

	2025	2024

At end of year	-	-

		Group	Group
		2025	2024
		£	£

	Accelerated capital allowances	132,657	156,275
		132,657	156,275

26.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

71 (2024 - 71) Ordinary 'A' shares of £1.00 each	71	71
25 (2024 - 25) Ordinary 'B' shares of £1.00 each	25	25
4 (2024 - 4) Ordinary 'C' shares of £1.00 each	4	4

	100	100

27.	Discontinued operations
	In December 2024 the subsidiary undertaking Corolldraw Limited ceased to trade.


	Profit on disposal before tax		-


		£

Net inflow of cash

Page 36

THE MONMORE GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

28.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £225,217 (2024 - £269,064). Contributions totalling £5,464 (2024 - £4,779) were payable to the fund at the reporting date and are included in creditors.

29.	Transactions with directors

During the year the director Aniel Mehta made repayments to the company totaling £3,345. This was the amount that was owed to the company in the previous year.

30.	Controlling party

The controlling interest in the company is held by Sukhdev and Santosh Mehta.

31.	Limitation of Auditors' liability

The company has entered into a liability limitation agreement, the principal terms being as follows:-
Any liability is limited, pursuant to Section 537 of the Companies Act 2006, to no less than such amount as is considered fair and reasonable in each individual circumstance and to a maximum of ten times the level of the fee for the audit service being carried out.
The resolution approving this agreement is dated 1 May 2025.

Page 37