REGISTERED NUMBER: 00689414 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 30th June 2025

for

HUMPHREY & STRETTON PLC

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

D J Humphrey

M G Sewell

B K J Humphrey

S D C Humphrey

SECRETARY:

S D C Humphrey

REGISTERED OFFICE:

Pindar Road Industrial Estate

Pindar Road

Hoddesdon

Hertfordshire

EN11 0EU

REGISTERED NUMBER:

00689414 (England and Wales)

AUDITORS:

Attenboroughs (Accountants) Limited

Statutory Auditor

1 Tower House

Tower Centre

Hoddesdon

Hertfordshire

EN11 8UR

BANKERS:

Barclays Bank

78 Turners Hill

Cheshunt

Hertfordshire

EN8 9BW

INSURERS:

Allianz Insurance Plc

57 Ladymead

Guildford

Surrey

GU1 1DB

The directors present their strategic report for the year ended 30th June 2025.

The directors are responsible for the preparation of the Strategic Report.

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of our business during the period and its position at the balance sheet date. Our review is consistent with the size and non-complex nature of our business.

The directors consider that the key performance indicators are those that communicate the financial performance and profitability of the company as a whole, these being the gross and net profit margins.

The company's gross profit as a percentage of its sales has decreased slightly for the year, with this year's showing a gross profit margin of 34.32% (2024: 39.23%). This is considered by the board to be quite satisfactory and reflects that good margins are still being achieved through increased activity. Its net profit as a percentage of sales has decreased from 13.06% in 2024 to 9.49% in 2025.

The company has adequate finance to take advantage of business opportunities, and the directors anticipate the continuation of satisfactory results.

PRINCIPAL RISKS AND UNCERTAINTIES

Macro-economic conditions remain challenging for our industry. We have a high quality customer base which we plan to build on as mitigation against the risk of a slow recovery of the UK economy. Our turnover across the group remains strong despite the existence of this economic uncertainty.

Our mitigating activities include retaining strong levels of working capital within the group.

We need to comply with laws and regulations governing occupational health and safety matters. Furthermore, accidents could happen which might result in injury to an individual, claims against the company and damage to our reputation.

Our mitigating activities include maintaining appropriate health and safety policies and procedures regarding the need to comply with laws and regulations and to reasonably guard our employees against the risk of injury, and induction and training programmes that reinforce health and safety policies.This is a risk which we insure against as required by law.

ON BEHALF OF THE BOARD:

S D C Humphrey - Director

21st November 2025

The directors present their report with the financial statements of the company for the year ended 30th June 2025.

DIVIDENDS

Interim dividends per share were paid as follows:

£0.024

- 26th February 2025

£0.024

- 26th March 2025

£0.03

- 28th April 2025

£0.03

- 27th May 2025

£0.03

- 25th June 2025

£6.5210716

- 30th June 2025

The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30th June 2025 will be £332,954

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1st July 2024 to the date of this report.

The directors shown below were in office at 30th June 2025 but did not hold any interest in the Ordinary shares of £1 each at 1st July 2024 or 30th June 2025.

D J Humphrey

M G Sewell

B K J Humphrey

S D C Humphrey

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;

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

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Attenboroughs (Accountants) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S D C Humphrey - Director

21st November 2025

Opinion

We have audited the financial statements of HUMPHREY & STRETTON PLC (the 'company') for the year ended 30th June 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30th June 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 page three, 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.

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities (non-compliance with laws and regulations), including fraud.

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

We have made enquires of management around actual and potential litigation claims.

The company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation, distributable profits legislation, taxation legislation and pension legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

We have reviewed the financial statement disclosures and testing to support documentation to assess compliance with applicable laws and regulations.

We have considered the risks of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

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.

Mr David Roger Pattman FCCA (Senior Statutory Auditor)

for and on behalf of Attenboroughs (Accountants) Limited

Statutory Auditor

1 Tower House

Tower Centre

Hoddesdon

Hertfordshire

EN11 8UR

21st November 2025

TURNOVER

4,125,050

3,981,448

Cost of sales

2,690,013

2,419,428

GROSS PROFIT

1,435,037

1,562,020

Distribution costs

218,253

189,395

Administrative expenses

823,248

875,891

1,041,501

1,065,286

393,536

496,734

Other operating income

10,793

24,538

OPERATING PROFIT

4

404,329

521,272

Interest receivable and similar income

196

47

404,525

521,319

Interest payable and similar expenses

5

-

1,239

PROFIT BEFORE TAXATION

404,525

520,080

Tax on profit

6

101,131

130,020

PROFIT FOR THE FINANCIAL YEAR

303,394

390,060

PROFIT FOR THE YEAR

303,394

390,060

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

303,394

390,060

FIXED ASSETS

Tangible assets

8

288,750

310,307

CURRENT ASSETS

Stocks

9

143,840

123,001

Debtors

10

1,128,323

969,634

Cash at bank and in hand

310,786

334,641

1,582,949

1,427,276

CREDITORS

Amounts falling due within one year

11

907,687

738,622

NET CURRENT ASSETS

675,262

688,654

TOTAL ASSETS LESS CURRENT LIABILITIES

964,012

998,961

PROVISIONS FOR LIABILITIES

12

72,188

77,577

NET ASSETS

891,824

921,384

CAPITAL AND RESERVES

Called up share capital

13

50,000

50,000

Retained earnings

14

841,824

871,384

SHAREHOLDERS' FUNDS

891,824

921,384

The financial statements were approved by the Board of Directors and authorised for issue on 21st November 2025 and were signed on its behalf by:

S D C Humphrey - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1st July 2023

50,000

812,897

862,897

Changes in equity

Dividends

-

(331,573

)

(331,573

)

Total comprehensive income

-

390,060

390,060

Balance at 30th June 2024

50,000

871,384

921,384

Changes in equity

Dividends

-

(332,954

)

(332,954

)

Total comprehensive income

-

303,394

303,394

Balance at 30th June 2025

50,000

841,824

891,824

Cash flows from operating activities

Cash generated from operations

1

720,248

117,337

Interest element of hire purchase or finance lease rental payments paid

-

(1,239

)

Tax paid

(222,449

)

(93,868

)

Net cash from operating activities

497,799

22,230

Cash flows from investing activities

Purchase of tangible fixed assets

(36,221

)

(139,627

)

Sale of intangible fixed assets

(6,297

)

-

Sale of tangible fixed assets

6,298

-

Interest received

196

47

Net cash from investing activities

(36,024

)

(139,580

)

Cash flows from financing activities

Loans to Participating Interests

(320,020

)

45,013

Loans from Group Companies

187,179

145,907

Capital repayments in year

-

(11,346

)

Amount withdrawn by directors

(19,835

)

(767

)

Equity dividends paid

(332,954

)

(331,573

)

Net cash from financing activities

(485,630

)

(152,766

)

Decrease in cash and cash equivalents

(23,855

)

(270,116

)

Cash and cash equivalents at beginning of year

2

334,641

604,757

Cash and cash equivalents at end of year

2

310,786

334,641

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

30/6/25

30/6/24

£

£

Profit before taxation

404,525

520,080

Depreciation charges

51,480

55,751

Loss on disposal of fixed assets

6,297

-

Finance costs

-

1,239

Finance income

(196

)

(47

)

462,106

577,023

Increase in stocks

(20,839

)

(10,356

)

Decrease/(increase) in trade and other debtors

188,044

(309,848

)

Increase/(decrease) in trade and other creditors

90,937

(139,482

)

Cash generated from operations

720,248

117,337

2.	CASH AND CASH EQUIVALENTS

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

Year ended 30th June 2025

30/6/25

1/7/24

£

£

Cash and cash equivalents

310,786

334,641

Year ended 30th June 2024

30/6/24

1/7/23

£

£

Cash and cash equivalents

334,641

604,757

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/7/24

Cash flow

At 30/6/25

£

£

£

Net cash

Cash at bank and in hand

334,641

(23,855

)

310,786

334,641

(23,855

)

310,786

Total

334,641

(23,855

)

310,786

1.	STATUTORY INFORMATION

HUMPHREY & STRETTON PLC is a private company , 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

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Foreign currencies

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors

It is the company's policy to maintain good relationships with it's customers. Customers are made aware of the terms of settlement, which are agreed with them in advance.

Accounting standards

The financial statements comply with all applicable accounting standards.

3.	EMPLOYEES AND DIRECTORS

30/6/25

30/6/24

£

£

Wages and salaries

1,222,641

1,143,228

Social security costs

128,543

119,821

Other pension costs

41,671

39,367

1,392,855

1,302,416

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

30/6/25

30/6/24

Office and management

11

12

Timber & Joinery

21

22

32

34

30/6/25

30/6/24

£

£

Directors' remuneration

207,606

217,304

Directors' pension contributions to money purchase schemes

9,089

9,536

Information regarding the highest paid director is as follows:

30/6/25

30/6/24

£

£

Emoluments etc

68,533

65,028

Pension contributions to money purchase schemes

2,456

2,339

4.	OPERATING PROFIT

The operating profit is stated after charging:

30/6/25

30/6/24

£

£

Other operating leases

108,230

60,222

Depreciation - owned assets

51,480

55,751

Loss on disposal of fixed assets

6,297

-

Auditors' remuneration

15,157

14,467

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

30/6/25

30/6/24

£

£

Hire purchase

-

1,239

6.

TAXATION

Analysis of the tax charge

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

30/6/25

30/6/24

£

£

Current tax:

UK corporation tax

106,520

109,051

Deferred tax

(5,389

)

20,969

Tax on profit

101,131

130,020

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is the same as the standard rate of corporation tax in the UK.

30/6/25

30/6/24

£

£

Profit before tax

404,525

520,080

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

101,131

130,020

Effects of:

Expenses not deductible for tax purposes

1,574

-

Capital allowances in excess of depreciation

-

(20,969

)

Depreciation in excess of capital allowances

3,815

-

Movement on deferred tax

(5,389

)

20,969

Total tax charge

101,131

130,020

7.

DIVIDENDS

30/6/25

30/6/24

£

£

Interim

332,954

331,573

8.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

equipment

fittings

Totals

£

£

£

COST

At 1st July 2024

863,318

74,218

937,536

Additions

36,221

-

36,221

Disposals

(12,731

)

(61,737

)

(74,468

)

At 30th June 2025

886,808

12,481

899,289

DEPRECIATION

At 1st July 2024

558,401

68,828

627,229

Charge for year

50,357

1,123

51,480

Eliminated on disposal

(7,336

)

(60,834

)

(68,170

)

At 30th June 2025

601,422

9,117

610,539

NET BOOK VALUE

At 30th June 2025

285,386

3,364

288,750

At 30th June 2024

304,917

5,390

310,307

9.

STOCKS

30/6/25

30/6/24

£

£

Stocks

143,840

123,001

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/6/25

30/6/24

£

£

Trade debtors

557,372

620,006

Amounts owed by participating interests

320,649

629

Amounts recoverable on contract

112,637

227,353

Other debtors

21,106

23,155

Directors' current accounts

84,776

64,941

Tax

6,878

-

Prepayments

24,905

33,550

1,128,323

969,634