REGISTERED NUMBER: 02420250 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

MEADOWVALE FOODS LTD

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

10

Other Comprehensive Income

11

Balance Sheet

12

Statement of Changes in Equity

13

Notes to the Financial Statements

14

DIRECTORS:

S L Kynaston

N P O'Donnell

S P Wantling

SECRETARY:

S L Haycock

REGISTERED OFFICE:

The Mill

Morton

Oswestry

Shropshire

SY10 8BH

REGISTERED NUMBER:

02420250 (England and Wales)

AUDITORS:

D.R.E. & Co. (Audit) Limited

Kingsland House

39 Abbey Foregate

Shrewsbury

Shropshire

SY2 6BL

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

REVIEW OF BUSINESS

Meadowvale Foods Ltd supplies food to the wholesale industry.

The company has had a pleasing year with an improvement in sales performance. The directors expect the general level of sales activity to remain consistent in future years and are working on ensuring increasing costs are appropriately charged onto customers.

Key performance indicators

The company monitors its performance using key performance indicators. The company considers its main key performance indicators to be like for like sales growth, gross margin percentage and operating profit. Performance on these measures is shown below and is in line with the expectations of the board.

2025

2024

% change

Turnover

£142,390,039

£121,633,315

17.06%

Gross margin

11.90%

12.39%

(0.48%

)

Operating profit

£8,059,378

£7,731,872

4.23%

PRINCIPAL RISKS AND UNCERTAINTIES

The company operates in a very competitive market which is a continuing risk and may result in sales being lost to competitors. The company manages this risk by providing excellent service in all its activities.

Financial risk management objectives and policies

The company's activities expose it to a number of financial risks including cash flow and liquidity. The board approves treasury policies, which are controlled on a day-to-day basis by senior management.

SECTION 172(1) STATEMENT

Corporate Governance Arrangements

The board of directors of the company collectively consider that they have acted in a way to promote the success of the business in the decisions taken in the year ended 31 March 2025 and the approval of the business plan for 2025/26.

Due to the nature and size of the company the directors fulfil their duties by utilising a governance framework and they delegate the day-to-day decision making to key management personnel, whilst maintaining the overall control of the processes and procedures the company operates.

Engagement with Suppliers, Customers and Employees

The company's board is committed to being a responsible business. Our behaviours and decision making are focused on growing a strong and stable business and we engage with all its customers, staff and suppliers.

Suppliers

The company sources products globally from Asia, South America and Europe. Our business is reliant on brand awareness and quality. As such, we place a significant emphasis on the supply chain and ensure we have strong mutually beneficial relationships with our suppliers. We endeavour to ensure all payments and any issues are resolved on a timely basis and uphold the principles upon which our business is built.

Customers

The board engages with all its customers through a very experienced sales and marketing network. We work very closely with them to both promote our brand and ensure that we deliver on our promises. We promote our reputation for being a family owned business who listens to our customers.

ENVIRONMENTAL POLICY

The company is committed to reducing the impact on the environment of the raw materials that it uses.

ON BEHALF OF THE BOARD:

S L Kynaston - Director

10 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of wholesaling of food products.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £nil (2024: £10,000,000).

DIRECTORS

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

S L Kynaston

N P O'Donnell

S P Wantling

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen, in accordance with s414C(11) of the Companies Act, to set out in the company's strategic report information regarding the review of business and a description of the principal risks and uncertainties facing the company.

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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and 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, D.R.E. & Co. (Audit) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

S L Kynaston - Director

10 December 2025

Opinion

We have audited the financial statements of Meadowvale Foods Ltd (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, 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 page four, 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.

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

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 identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other

management, and from our commercial knowledge and experience of the frozen food wholesale sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, import licence regulations, food standard agency, employment, environmental, health and safety legislation. We also consider regulations such as General Data Protection Regulations, Anti Money Laundering, Consumer Rights Act throughout the audit.

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of

management; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to

instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and

- reviewing the client's system notes and internal controls.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- review of the cashbook to identify any large or unusual transactions that appear to have no commercial basis.

- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and - reviewing correspondence with HMRC.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.

Francis Nock F.C.C.A. (Senior Statutory Auditor)

for and on behalf of D.R.E. & Co. (Audit) Limited

Kingsland House

39 Abbey Foregate

Shrewsbury

Shropshire

SY2 6BL

10 December 2025

TURNOVER

4

142,390,039

121,633,315

Cost of sales

(125,441,157

)

(106,568,678

)

GROSS PROFIT

16,948,882

15,064,637

Administrative expenses

(8,889,504

)

(7,332,765

)

OPERATING PROFIT

6

8,059,378

7,731,872

Interest receivable and similar income

235,881

188,189

PROFIT BEFORE TAXATION

8,295,259

7,920,061

Tax on profit

7

(2,121,890

)

(1,865,825

)

PROFIT FOR THE FINANCIAL YEAR

6,173,369

6,054,236

PROFIT FOR THE YEAR

6,173,369

6,054,236

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

6,173,369

6,054,236

FIXED ASSETS

Intangible assets

9

3,100

-

Tangible assets

10

650,457

631,944

653,557

631,944

CURRENT ASSETS

Stocks

11

22,563,637

16,597,471

Debtors

12

16,013,403

13,677,138

Cash at bank and in hand

4,774,132

5,534,874

43,351,172

35,809,483

CREDITORS

Amounts falling due within one year

13

24,384,584

22,994,651

NET CURRENT ASSETS

18,966,588

12,814,832

TOTAL ASSETS LESS CURRENT LIABILITIES

19,620,145

13,446,776

CAPITAL AND RESERVES

Called up share capital

15

2

2

Retained earnings

16

19,620,143

13,446,774

SHAREHOLDERS' FUNDS

19,620,145

13,446,776

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

S L Kynaston - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

2

17,392,538

17,392,540

Changes in equity

Dividends

-

(10,000,000

)

(10,000,000

)

Total comprehensive income

-

6,054,236

6,054,236

Balance at 31 March 2024

2

13,446,774

13,446,776

Changes in equity

Total comprehensive income

-

6,173,369

6,173,369

Balance at 31 March 2025

2

19,620,143

19,620,145

1.	STATUTORY INFORMATION

Meadowvale Foods Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office address can be found on the Company information page.

The principal place of business is Units 18 / 19 Wilkinson Court, Clywedog Road South, Wrexham, LL13 9AE.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

These financial statements are for the individual entity only.

The financial statements are presented in Sterling (£), 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 requirements of paragraphs 29.28(b) and 29.29;

•

the requirement of paragraph 33.7;

•

the requirements of paragraph 24(b) of IFRS 6.

Significant judgements and estimates

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.

The company makes an estimate for rebates to be made to customers. When assessing the cost of this, management considers factors including the current sales volume, and number of cases sold to the customer. The amount provided is included within accruals.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the goods are physically delivered and services are provided to the customer.

Intangible fixed assets

Intangible fixed assets are recorded at cost and amortised over a period of 4 years on a straight line basis, in order to write off each asset over its estimated useful life.

Tangible fixed assets

Tangible fixed assets are stated at historic cost less accumulated depreciation. Costs include original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

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

Freehold property

-

not provided

Plant and machinery

-

25% on cost and 10% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

No depreciation has been provided in respect of the company's freehold property on the grounds that the charge would be immaterial based on the estimated residual value at the year end date. The directors consider that this accounting policy which represents a departure from Companies Act 2006 is necessary for the financial statements to show a true and fair view.

Stocks

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

Financial instruments

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

(i) Financial assets

Basic financial assets, including trade and other receivables, amounts owed by group undertakings and cash and bank balances, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 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.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables and amounts owed to group undertakings, 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 receipts discounted at a market rate of interest.

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

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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

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.

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.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.3.25

31.3.24

£

£

Goods

116,074,530

101,563,541

Services

26,315,509

20,069,774

142,390,039

121,633,315

An analysis of turnover by geographical market is given below:

31.3.25

31.3.24

£

£

UK sales

130,936,095

114,692,155

Non UK sales

11,453,944

6,941,160

142,390,039

121,633,315

5.	EMPLOYEES AND DIRECTORS

31.3.25

31.3.24

£

£

Wages and salaries

2,700,844

2,430,346

Social security costs

269,251

242,002

Other pension costs

168,426

87,852

3,138,521

2,760,200

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

31.3.25

31.3.24

Sales and distribution

19

18

Administration

14

13

33

31

31.3.25

31.3.24

£

£

Directors' remuneration

183,219

258,219

Directors' pension contributions to money purchase schemes

82,747

7,747

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

1

1

6.	OPERATING PROFIT

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

31.3.25

31.3.24

£

£

Depreciation - owned assets

98,123

85,127

Profit on disposal of fixed assets

-

(1,250

)

Auditors' remuneration

19,905

15,390

Auditors' remuneration for non audit work

-

3,805

Foreign exchange differences

151,461

(6,918

)

Lease payments in year

18,852

-

7.

TAXATION

Analysis of the tax charge

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

31.3.25

31.3.24

£

£

Current tax:

UK corporation tax

2,106,948

1,945,291

Adjustment in respect of prior years

14,942

(79,466

)

Tax on profit

2,121,890

1,865,825

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:

31.3.25

31.3.24

£

£

Profit before tax

8,295,259

7,920,061

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

2,073,815

1,980,015

Effects of:

Expenses not deductible for tax purposes

72,368

4,981

Capital allowances in excess of depreciation

(11,201

)

(4,320

)

Adjustments to tax charge in respect of previous periods

14,942

(79,466

)

Double taxation relief

(28,034

)

(35,385

)

Total tax charge

2,121,890

1,865,825

8.

DIVIDENDS

31.3.25

31.3.24

£

£

Ordinary shares of £1 each

Interim

-

10,000,000

9.	INTANGIBLE FIXED ASSETS

Trade

marks

£

COST

At 1 April 2024

25,000

Additions

3,100

At 31 March 2025

28,100

AMORTISATION

At 1 April 2024

and 31 March 2025

25,000

NET BOOK VALUE

At 31 March 2025

3,100

At 31 March 2024

-

10.	TANGIBLE FIXED ASSETS

Freehold

Long

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 April 2024

495,595

-

348,364

Additions

-

13,212

113,904

Disposals

(11,431

)

-

-

At 31 March 2025

484,164

13,212

462,268

DEPRECIATION

At 1 April 2024

-

-

237,117

Charge for year

-

3,303

82,427

At 31 March 2025

-

3,303

319,544

NET BOOK VALUE

At 31 March 2025

484,164

9,909

142,724

At 31 March 2024

495,595

-

111,247

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2024

206,575

25,881

1,076,415

Additions

951

-

128,067

Disposals

-

-

(11,431

)

At 31 March 2025

207,526

25,881

1,193,051

DEPRECIATION

At 1 April 2024

200,884

6,470

444,471

Charge for year

5,922

6,471

98,123

At 31 March 2025

206,806

12,941

542,594

NET BOOK VALUE

At 31 March 2025

720

12,940

650,457

At 31 March 2024

5,691

19,411

631,944

No depreciation has been provided in respect of the company's freehold property on the grounds that the charge would be immaterial based on the estimated residual value at the year end date. The directors consider that this accounting policy, which represents a departure from Companies Act 2006, is necessary for the financial statements to show a true and fair view.

11.

STOCKS

31.3.25

31.3.24

£

£

Finished goods for re-sale

22,563,637

16,597,471