REGISTERED NUMBER: 02627116 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SLICK STITCH EMBROIDERY COMPANY LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Profit and loss

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

Mrs N Jain

I M Jain

G M Jain

REGISTERED OFFICE:

Dixon House

Old Heath Road

Wolverhampton

West Midlands

WV1 2BF

REGISTERED NUMBER:

02627116 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

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

REVIEW OF BUSINESS

The Company operates as an apparel embellisher, provider of embellished corporate apparel and online retailer of clothing.

The Company provides services and products to a broad customer base, including global companies, SMEs and sole traders. We provide services into a wide range of sectors including school clothing, healthcare, sportswear and general business and corporate workwear.

The Directors' submit the audited accounts for the year ended 31 March 2025. The profit after tax was £1,062,904 (2024: £134,362).

PRINCIPAL RISKS AND UNCERTAINTIES

The Company reviews the key risks and uncertainties faced on an on-going basis, these are set out below with their mitigating factors:

Financial risk management

The Company's key financial risks are the effects of changes in credt risk and market risk.

Market risk

The Company has a broad customer base which it services utilising its own customer portals, the Directors are therefore of the opinion that the risk from loss of business through the lack of retention of key clients is mitigated. No single end user makes up a significant proportion of the Company's turnover.

Credit risk

The Company has implemented a new credit control policy that require credit checks on all potential customers before sales are made. The amount of exposure to any individual customer is subject to a limit, which is regularly reassessed by the Directors, in conjunction with third party information.

Business continuity

Controls are in place to maintain the integrity and efficiency of the IT systems, including disaster recovery plans which would be implemented in the event of a major failure. IT security is monitored and updated to ensure data is protected from unauthorised use and corruption. The business continuity plan for all significant activities and operations is reviewed and tested on a regular basis.

HEALTH AND SAFETY

The Board is aware of its responsibilities on all matters relating to health and safety of employees, customers, visitors to Company premises and others affected by the Company's activities. The Company has clearly defined health and safety policies which follow current best practices and meet or exceed legal requirements.

The policy is brought to the attention of all employees and copies of policy documents are available upon request to all interested parties.

The Company has arrangements in place to consult employees regarding health and safety matters. There are regular meeting of site-based committees which comprise employee representatives and health and safety representatives as appropriate.

FINANCIAL KEY PERFORMANCE INDICATORS

The Directors' consider the key financial indicators of the business to be as follows:

2025

2024

£

£

Gross margin percentage

41.0%

40.1%

Profit/(loss) for the financial year

1,062,904

134,362

Net assets

5,960,851

4,897,947

OTHER KEY PERFORMANCE INDICATORS

In addition, management closely monitors sales pipeline, order fulfilment and quality measures. As noted above, the Board also monitors the availability of funding and is pleased to report that cash generation and funding headroom are both strong.

ON BEHALF OF THE BOARD:

I M Jain - Director

3 November 2025

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

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

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

Mrs N Jain

I M Jain

G M Jain

FINANCIAL INSTRUMENTS

The principal financial instruments of the company comprise bank balances and borrowings, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for the company's operations and to finance its continuing operations. Liquidity risk is managed by the use of bank balances and fixed deposit facilities along with efficient monitoring and forecasting of cash flow to ensure there are sufficient funds to meet liabilities. Trade debtors are managed in respect of credit and cash flow risk by policies monitoring the credit offered to customers, and regular monitoring of amounts outstanding for both time and credit limits.

ENGAGEMENT WITH EMPLOYEES

The Directors recognise that employees are the company's most valuable asset and remain committed to fostering a culture of open dialogue, engagement, and mutual respect. Throughout the year, engagement initiatives are focused on enhancing communication, professional development, and overall well-being. Employee surveys are undertaken via staff committees twice a year to gather feedback on workplace satisfaction and identify key areas for improvement, with action plans subsequently developed and implemented across all departments. Furthermore, regular weekly/monthly meetings and internal correspondence help to ensure transparency regarding company performance, strategic direction and other important updates. The company has invested in training and development programmes designed to equip Slick Stitch's team with the skills necessary for future growth and career progression. These efforts help both improve employee retention and morale and also directly positively contribute to the company's operational efficiency and success.

The company gives full consideration to applications for employment from disabled persons where the requirements of the job can adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the company's policy wherever practable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

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

-	select suitable accounting policies and then apply them consistently;

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Luckmans Duckett Parker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

I M Jain - Director

3 November 2025

Opinion

We have audited the financial statements of Slick Stitch Embroidery Company Limited (the 'company') for the year ended 31 March 2025 which comprise the Profit and loss, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages four and five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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:

Our approach to designing audit procedures by tailoring and directing testing to aid and support the determined level of risk. In response, the procedures we perform to determine the level of risk include:

- Reference to past history and experience of the Entity;

- enquiry of management, including obtaining and reviewing supporting documentation concerning the

Entity's procedures relating to:

- identifying and complying with laws and regulations and whether they were aware of any instances

of non-compliance;

- detection and response to risk of fraud and whether they were aware of any actual or suspected

instances of fraud.

- assessment of the controls and processes that the Entity has in place to mitigate risk.

We obtained an understanding of the legal and regulatory frameworks applicable to the company based on our understanding of the company and sector experience and discussions with management. The most significant considerations for the company are the Companies Act 2006, corporate taxes and VAT legislation, employment taxes employment laws, health and safety and the Bribery Act 2010.

We carried out discussions among the engagement team, who also undertook the audit testing, to assess how and where fraud might occur in the financial statements and any potential indicators of fraud.Our assessments included the identification of the following potential areas for fraud:

- Management override of control;

- Revenue recognition, particularly in respect of delivering of services

We design audit procedures by tailored and directed testing to aid and support the determined level of risk. In response to the assessed risk we plan audit tests and procedures that target specific areas where

misstatement may occur. These procedures and the extent to which they are capable of detecting

irregularities, including fraud, are detailed below:

- We critically assessed the appropriateness and tested the application of the revenue and cost

recognition policies

- We assessed the appropriateness of accounting journals and other adjustments made in the

preparation of the financial statements

- We reviewed the Entity's accounting policies for non-compliance with relevant standards.

- We made enquiries of management and reviewed correspondence with the relevant authorities to

identify any irregularities or instances of non-compliance with laws and regulations

In performing an audit in accordance with UK-adopted international accounting standards and the Companies Act, we exercise professional judgement and maintain professional scepticism throughout the audit process.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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

Use of our report

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

Mark Spafford FCA FCCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

3 November 2025

TURNOVER

12,669,128

11,578,591

Cost of sales

7,469,775

6,938,180

GROSS PROFIT

5,199,353

4,640,411

Administrative expenses

4,168,395

4,528,663

1,030,958

111,748

Other operating income

363,947

389,349

OPERATING PROFIT

4

1,394,905

501,097

Interest receivable and similar income

94,211

61,715

1,489,116

562,812

Interest payable and similar expenses

6

38,607

60,366

PROFIT BEFORE TAXATION

1,450,509

502,446

Tax on profit

7

387,605

368,084

PROFIT FOR THE FINANCIAL YEAR

1,062,904

134,362

PROFIT FOR THE YEAR

1,062,904

134,362

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,062,904

134,362

FIXED ASSETS

Intangible assets

8

2

2

Tangible assets

9

2,101,224

2,470,133

2,101,226

2,470,135

CURRENT ASSETS

Stocks

10

88,377

90,778

Debtors

11

8,856,086

6,377,117

Cash at bank and in hand

547,277

453,645

9,491,740

6,921,540

CREDITORS

Amounts falling due within one year

12

5,288,171

3,787,270

NET CURRENT ASSETS

4,203,569

3,134,270

TOTAL ASSETS LESS CURRENT LIABILITIES

6,304,795

5,604,405

CREDITORS

Amounts falling due after more than one year

13

(75,000

)

(375,000

)

PROVISIONS FOR LIABILITIES

15

(268,944

)

(331,458

)

NET ASSETS

5,960,851

4,897,947

CAPITAL AND RESERVES

Called up share capital

16

20,000

20,000

Retained earnings

17

5,940,851

4,877,947

SHAREHOLDERS' FUNDS

5,960,851

4,897,947

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2025 and were signed on its behalf by:

I M Jain - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

20,000

4,743,585

4,763,585

Changes in equity

Total comprehensive income

-

134,362

134,362

Balance at 31 March 2024

20,000

4,877,947

4,897,947

Changes in equity

Total comprehensive income

-

1,062,904

1,062,904

Balance at 31 March 2025

20,000

5,940,851

5,960,851

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Statement of compliance

The financial statements of UK GAAP Limited have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, ‘The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (‘FRS 102’) and the companies act 2006.

Basis of preparing the financial statements

These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by the revaluation of land and buildings and certain financial assets and liabilities measured at fair value through profit or loss.

The financial statements are presented in Pound Sterling and rounded to the nearest £1.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

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

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

•

the requirement of paragraph 33.7.

This information is included in the consolidated financial statements of Slick Stitch Holdings Limited as at 31 March 2023.

Preparation of consolidated financial statements

The company is a wholly owned subsidiary of slick Stitch Holdings Limited. It is included in the consolidated financial statements of Slick Stitch Holdings Limited which are publicly available. The company is exempt by virtue of section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements. The ultimate parent undertaking consolidate these financial statements is Slick Stitch Holdings Limited. The address of the parent’s registered office is Dixon House, Old Heath Road, Wolverhampton, England, WV1 2BF.

These financial statements are the company’s separate financial statements.

Critical accounting judgements and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. The remaining useful economic life of the main production plant asset is considered a source of significant estimation uncertainty.

(ii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including credit rating of the debtor, the ageing profile of debtors and historical experience.

Turnover

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

Rendering of services

The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer, (b) the company retains no continuing involvement or control over the goods, (c) the amount of revenue can be measured reliably, (d) it is probable that future economic benefits will flow to the entity.

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 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 Statement of comprehensive income 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.

The estimated useful lives range as follows:

Goodwill - 4 years

Software development - 4 years

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

Over periods up to 50 years

Long leasehold

-

10 years straight line

Plant and machinery

-

5 and 15 years straight line

Fixtures and fittings

-

10 years straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stocks are recognised as an expense in the period in which the related revenue is recognised.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by group undertakings, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans 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 payments discounted at a market rate of interest.

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. Trade creditors 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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

7,038,998

6,368,561

Social security costs

653,171

550,228

Other pension costs

126,482

113,741

7,818,651

7,032,530

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

2025

2024

Administration and developmental

49

49

Distribution

2

2

Manufacturing and warehousing

236

236

287

287

2025

2024

£

£

Directors' remuneration

181,483

108,000

4.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

12,320

5,155

Other operating leases

404,007

308,068

Depreciation - owned assets

434,718

638,962

Loss on disposal of fixed assets

-

148,008

Goodwill amortisation

-

3,258

Computer software amortisation

-

31,444

Foreign exchange differences

(5,148

)

14,145

5.	EXCEPTIONAL ITEMS

2025

2024

£

£

Exceptional items

-

(341,981

)

After the previous year end a related party ceased to trade. The company purchased the business and the assets of the company for a consideration of £1. At the previous year end the company was owed £341,981 from the company which was deemed irrecoverable and written off to the profit and loss.

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Bank interest

38,607

60,366

7.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

450,119

383,903

Prior year overprovision

-

14,585

Total current tax

450,119

398,488

Deferred tax

(62,514

)

(30,404

)

Tax on profit

387,605

368,084

Reconciliation of total tax charge included in profit and loss

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

2025

2024

£

£

Profit before tax

1,450,509

502,446

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

362,627

125,612

Effects of:

Expenses not deductible for tax purposes

10,311

95,039

Depreciation in excess of capital allowances

77,181

156,758

Group relief

-

(1,771

)

Prior year overprovision

-

(7,554

)

Deferred tax movement

(62,514

)

-

Total tax charge

387,605

368,084

8.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

2

556,687

556,689

AMORTISATION

At 1 April 2024

and 31 March 2025

-

556,687

556,687

NET BOOK VALUE

At 31 March 2025

2

-

2

At 31 March 2024

2

-

2

9.	TANGIBLE FIXED ASSETS

Freehold

Long

Plant and

property

leasehold

machinery

Totals

£

£

£

£

COST

At 1 April 2024

1,281,207

805,901

5,511,489

7,598,597

Additions

-

-

65,809

65,809

At 31 March 2025

1,281,207

805,901

5,577,298

7,664,406

DEPRECIATION

At 1 April 2024

485,869

488,072

4,154,523

5,128,464

Charge for year

59,678

80,590

294,450

434,718

At 31 March 2025

545,547

568,662

4,448,973

5,563,182

NET BOOK VALUE

At 31 March 2025

735,660

237,239

1,128,325

2,101,224

At 31 March 2024

795,338

317,829

1,356,966

2,470,133

10.

STOCKS

2025

2024

£

£

Stocks

88,377

90,778

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,338,351

1,281,617

Amounts owed by group undertakings

7,372,599

4,526,210

Other debtors

13,288

-

Directors' current accounts

58,244

501,004

Prepayments

73,604

68,286

8,856,086

6,377,117

Statutory disclosures relating to amounts owed from the director is given in note 19 to the financial statements.

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 14)

300,000

300,000

Trade creditors

527,307

339,052

Amounts owed to group undertakings

3,184,021

1,938,679

Tax

450,119

383,903

Social security and other taxes

499,723

499,089

Other creditors

238,036

214,506

Accruals and deferred income

88,965

112,041

5,288,171

3,787,270