Company Registration No. NI069075 (Northern Ireland)
SESSIA LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
SESSIA LTD
CONTENTS
Page
Strategic report
1
Director's report
2 - 3
Independent auditor's report
4 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 24
SESSIA LTD
COMPANY INFORMATION
Director
Mr M Fullan
Company number
NI069075
Registered office
76-82 Main Street
Portglenone
Ballymena
Northern Ireland
BT44 8HR
Auditor
SCC Chartered Accountants Ltd
1 The Square
Moy
BT71 7SH
Bankers
Danske Bank
1-2 Broadway
Ballymena
Antrim
BT43 7PE
Solicitors
Worthington Solicitors
24-38 Gordon Street
Belfast
BT1 2LG
SESSIA LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -

The director presents the strategic report for the year ended 30 April 2025.

Review of the business

The company's performance in the year is considered satisfactory. Turnover has increased by 8.6% to £13,124,253 in the year ending 30 April 2025 from £12,081,832 in year ending 30 April 2024. Gross margin has fallen to 10.8% in the year (2024: 13.9%) reflecting increased costs.

As at 30 April 2025, the company’s net assets increased to £13,116,062 up from £12,865,859 in the prior year, demonstrating the resilience of the company’s financial position. This growth provides a strong foundation for future development and investment.

Principal risks and uncertainties

The company uses financial instruments throughout its business. The core risks associated with the company's financial instruments (i.e. its interest-bearing loans, cash, short-dated liquid investments and finance leases, on the operational level trade receivables and payables) are interest rate risk, credit risk and liquidity risk. The director agrees policies for the prudent management of these risks as follows:

Finance and Interest rate risk - The company's objective in relation to interest rate management is to minimise the impact on interest rate volatility on interest costs in order to mitigate against this risk.

Liquidity and cash flow risk - The company's objective is to maintain a balance between the continuity of funding and flexibility through the use of borrowings with a range of maturities. The company's policy is to ensure that sufficient resources are available either from cash balances, cash flows and near cash liquid investments to ensure all obligations can be met when they fall due. To achieve this the company ensures that its liquid investments are in highly rates counterparties; when relevant it limits the maturity of cash balances and borrows the majority of its debt needs under term financing.

Credit risk - The company has no significant concentrations of credit risk. Customers who wish to trade on credit terms are subject to strict verification procedures in advance of credit being awarded and are continually being monitored.

Key performance indicators

The director considers turnover, gross profit margin, profit before tax and cash flow to be the main measures of financial performance.

On behalf of the board

Mr M Fullan
Director
10 November 2025
SESSIA LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -

The director presents the annual report and financial statements for the year ended 30 April 2025.

Principal activities

The principal activity of the company continued to be that of supermarket and fuel filling station.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr M Fullan
Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The director does not recommend payment of a final dividend.

Post reporting date events

There have been no significant post balance sheet events.

Future developments

The company plans to continue its present activities and current trading levels. Employees are kept fully informed as practicable about developments within the business.

Auditor
In accordance with the company's articles, a resolution proposing that SCC Chartered Accountants Ltd be reappointed as auditor of the company will be put at a General Meeting.
Statement of director's responsibilities

The director is responsible for preparing the annual report 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 she 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 them to ensure that the financial statements comply with the Companies Act 2006. She 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 of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

SESSIA LTD
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
On behalf of the board
Mr M Fullan
Director
10 November 2025
SESSIA LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF SESSIA LTD
- 4 -
Opinion

We have audited the financial statements of Sessia Ltd (the 'company') for the year ended 30 April 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 30 April 2025 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's 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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

- the director's use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

- the director has not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 our audit:

- the information given in the strategic report and the director's r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

SESSIA LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF SESSIA LTD
- 5 -
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 identifie d material misstatements in the strategic report and the director's r eport.

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 director's r esponsibilities s tatement, 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 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 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.

SESSIA LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF SESSIA LTD
- 6 -
Auditor's 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 auditor's 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 designed 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:

Based on our understanding of the company and industry, we identified the principal risks of non-compliance with laws and regulations related to employment law and health and safety law. We also considered those laws that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Financial Reporting Standards.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks related to fraudulent financial reporting and management bias in accounting estimates. We communicated the identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. Audit procedures performed by the auditors included, but were no limited to:

- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

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

- Identifying and testing of unusual journal entries

Owing to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to 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: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

SESSIA LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF SESSIA LTD
- 7 -

The purpose of our audit work and to whom we owe our responsibilities

This report is made solely to the company's member 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 member those matters we are required to state to her in an auditor's 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 member for our audit work, for this report, or for the opinions we have formed.

Sean G. Cavanagh (Senior Statutory Auditor)
for and on behalf of
10 November 2025
SCC Chartered Accountants Ltd
1 The Square
Moy
BT71 7SH
SESSIA LTD
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
13,124,253
12,081,832
Cost of sales
(11,707,260)
(10,398,069)
Gross profit
1,416,993
1,683,763
Administrative expenses
(1,318,248)
(1,275,311)
Other operating income
283,827
305,066
Operating profit
6
382,572
713,518
Interest receivable and similar income
161,965
29,696
Interest payable and similar expenses
7
(58,113)
(79,975)
Profit before taxation
486,424
663,239
Tax on profit
8
(236,221)
(89,485)
Profit for the financial year
250,203
573,754

The profit and loss account has been prepared on the basis that all operations are continuing operations.

SESSIA LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2025
- 9 -
2025
2024
£
£
Profit for the year
250,203
573,754
Other comprehensive income
-
-
Total comprehensive income for the year
250,203
573,754
SESSIA LTD
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 10 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
9
148,000
160,686
Tangible assets
10
12,884,138
13,079,128
13,032,138
13,239,814
Current assets
Stocks
11
314,141
375,778
Debtors
12
92,139
38,089
Cash at bank and in hand
4,021,866
3,792,383
4,428,146
4,206,250
Creditors: amounts falling due within one year
13
(1,086,913)
(1,130,849)
Net current assets
3,341,233
3,075,401
Total assets less current liabilities
16,373,371
16,315,215
Creditors: amounts falling due after more than one year
14
(3,185,791)
(3,410,078)
Provisions for liabilities
Deferred tax liability
71,518
39,278
(71,518)
(39,278)
Net assets
13,116,062
12,865,859
Capital and reserves
Called up share capital
18
16
16
Revaluation reserve
3,300,000
3,300,000
Profit and loss reserves
9,816,046
9,565,843
Total equity
13,116,062
12,865,859
The financial statements were approved and signed by the director and authorised for issue on 10 November 2025
Mr M Fullan
Director
Company registration number NI069075 (Northern Ireland)
SESSIA LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2025
- 11 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 May 2023
16
3,300,000
8,992,089
12,292,105
Year ended 30 April 2024:
Profit and total comprehensive income
-
-
573,754
573,754
Balance at 30 April 2024
16
3,300,000
9,565,843
12,865,859
Year ended 30 April 2025:
Profit and total comprehensive income
-
-
250,203
250,203
Balance at 30 April 2025
16
3,300,000
9,816,046
13,116,062
SESSIA LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
618,041
295,944
Interest paid
(58,113)
(79,975)
Income taxes paid
(246,288)
-
0
Net cash inflow from operating activities
313,640
215,969
Investing activities
Purchase of tangible fixed assets
(173,093)
-
0
Proceeds from disposal of tangible fixed assets
3,200
-
0
Interest received
161,965
29,696
Net cash (used in)/generated from investing activities
(7,928)
29,696
Financing activities
Repayment of bank loans
(104,526)
(90,447)
Payment of finance leases obligations
28,297
(4,300)
Net cash used in financing activities
(76,229)
(94,747)
Net increase in cash and cash equivalents
229,483
150,918
Cash and cash equivalents at beginning of year
3,792,383
3,641,465
Cash and cash equivalents at end of year
4,021,866
3,792,383
SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 13 -
1
Accounting policies
Company information

Sessia Ltd is a private company limited by shares incorporated in Northern Ireland. The registered office is 76-82 Main Street, Portglenone, Ballymena, Northern Ireland, BT44 8HR.

1.1
Accounting convention

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

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

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

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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

1.4
Intangible fixed assets other than goodwill

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

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

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

Goodwill
5% Straight Line
1.5
Tangible fixed assets

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

SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 14 -

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

Freehold land and buildings
2% Straight Line
Plant and equipment
20% Reducing Balance

The depreciation policy for Freehold land and buildings has changed from 5% to 2% Straight Line in the year.

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

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 15 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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

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

Basic financial assets

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

Other financial assets

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

Impairment of financial assets

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

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

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

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

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 16 -
Basic financial liabilities

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

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

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

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

Derecognition of financial liabilities

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

1.10
Equity instruments

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

1.11
Taxation

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

Current tax

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

SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 17 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

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

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

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

Key management personnel is regarded to be the director of the company.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 18 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Depreciation

The annual depreciation charge is a key accounting estimate and is calculated based on the entity's assessment of useful economic lives for each category of asset and the residual value of fixed assets. These are both reviewed annually and updates are made if required.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of goods
13,124,253
12,081,832
2025
2024
£
£
Other significant revenue
Interest income
161,965
29,696
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
13,124,253
12,081,832
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
85
91
SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
4
Employees
(Continued)
- 19 -

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,110,627
948,194
Social security costs
55,958
45,909
Pension costs
12,741
13,436
1,179,326
1,007,539
5
Director's remuneration
2025
2024
£
£
Remuneration for qualifying services
8,320
9,120
6
Operating profit
2025
2024
Operating profit for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
361,522
347,720
Loss on disposal of tangible fixed assets
3,361
-
Amortisation of intangible assets
12,686
12,686
7
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
56,770
79,256
Other finance costs:
Interest on finance leases and hire purchase contracts
1,050
719
Other interest
293
-
0
58,113
79,975
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
203,981
246,288
Adjustments in respect of prior periods
-
0
(156,803)
Total current tax
203,981
89,485
SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
8
Taxation
2025
2024
£
£
(Continued)
- 20 -
Deferred tax
Origination and reversal of timing differences
32,240
-
0
Total tax charge
236,221
89,485

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
486,424
663,239
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
121,606
165,810
Tax effect of expenses that are not deductible in determining taxable profit
1,282
126
Tax effect of utilisation of tax losses not previously recognised
-
0
(8,263)
Adjustments in respect of prior years
-
0
(156,803)
Permanent capital allowances in excess of depreciation
81,093
88,615
Movement in deferred tax
32,240
-
0
Taxation charge for the year
236,221
89,485
9
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2024 and 30 April 2025
253,718
Amortisation and impairment
At 1 May 2024
93,032
Amortisation charged for the year
12,686
At 30 April 2025
105,718
Carrying amount
At 30 April 2025
148,000
At 30 April 2024
160,686
SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 21 -
10
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 May 2024
14,983,952
634,783
15,618,735
Additions
-
0
173,093
173,093
Disposals
-
0
(21,357)
(21,357)
At 30 April 2025
14,983,952
786,519
15,770,471
Depreciation and impairment
At 1 May 2024
2,096,989
442,618
2,539,607
Depreciation charged in the year
299,679
61,843
361,522
Eliminated in respect of disposals
-
0
(14,796)
(14,796)
At 30 April 2025
2,396,668
489,665
2,886,333
Carrying amount
At 30 April 2025
12,587,284
296,854
12,884,138
At 30 April 2024
12,886,963
192,165
13,079,128

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

2025
2024
£
£
Plant and equipment
32,913
-
0
11
Stocks
2025
2024
£
£
Finished goods and goods for resale
314,141
375,778
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
7,731
3,894
Other debtors
78,720
28,820
Prepayments and accrued income
5,688
5,375
92,139
38,089
SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 22 -
13
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
17
104,526
163,595
Obligations under finance leases
16
6,616
1,486
Trade creditors
538,653
491,794
Corporation tax
203,981
246,288
Other taxation and social security
34,465
6,705
Other creditors
189,922
188,481
Accruals and deferred income
8,750
32,500
1,086,913
1,130,849
14
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
17
576,720
622,177
Obligations under finance leases
16
23,167
-
0
Other creditors
2,585,904
2,787,901
3,185,791
3,410,078

Included in other creditors is a balance of £1,1 01,904 (20 24: £1,118,405) owed to director.

15
Provisions for liabilities
2025
2024
Notes
£
£
Deferred tax liabilities
71,518
39,278
16
Finance lease obligations
2025
2024
Future minimum lease payments due under finance leases:
£
£
Within one year
6,616
1,486
In two to five years
23,167
-
0
29,783
1,486
SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 23 -
17
Loans and overdrafts
2025
2024
£
£
Bank loans
681,246
785,772
Payable within one year
104,526
163,595
Payable after one year
576,720
622,177

The company's borrowings are secured. For security details please write to the company secretary at the registered office for further details.

18
Share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
16 Ordinary shares of £1 each
16
16
19
Post Balance Sheet Events

There have been no significant events effecting the company since the year-end.

20
Related party transactions
Transactions with related parties

As at 30 April 2025 the company is owed £5,767 from Sessia Acquisitions Ltd (2024: £10,860). There is a common director with Sessia Limited.

As at 30 April 2025 the company is owed £5,767 from Sessia Holdings Ltd (2024: £10,860). There is a common director with Sessia Limited.

21
Directors' transactions

As at 30th April 202 5 the company owed £1,101,904 (20 24: £1,118,405) to the director. This balance is deemed unsecured, interest f ree and payable on demand.

22
Ultimate Controlling Party

Mr. Michael Fullan is considered to be the company's ultimate controlling party as he owns 100% of the ordinary share capital.

SESSIA LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 24 -
23
Cash generated from operations
2025
2024
£
£
Profit after taxation
250,203
573,754
Adjustments for:
Taxation charged
236,221
89,485
Finance costs
58,113
79,979
Investment income
(161,965)
(29,696)
Loss on disposal of tangible fixed assets
3,361
-
Amortisation and impairment of intangible assets
12,686
12,686
Depreciation and impairment of tangible fixed assets
361,522
347,720
Movements in working capital:
Decrease/(increase) in stocks
61,637
(160,778)
Increase in debtors
(54,050)
(11,646)
Decrease in creditors
(149,687)
(605,560)
Cash generated from operations
618,041
295,944
24
Analysis of changes in net funds
1 May 2024
Cash flows
30 April 2025
£
£
£
Cash at bank and in hand
3,792,383
229,483
4,021,866
Borrowings excluding overdrafts
(785,772)
104,526
(681,246)
Obligations under finance leases
(1,486)
(28,297)
(29,783)
3,005,125
305,712
3,310,837
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