REGISTERED NUMBER: 07481672 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

FWG SALES LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Income and Retained Earnings

10

Balance Sheet

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

A M McClements

J Waugh

REGISTERED OFFICE:

Riverside House

River Lane

Saltney

Chester

CH4 8RQ

REGISTERED NUMBER:

07481672 (England and Wales)

AUDITORS:

M. D. Coxey and Co. Limited

Chartered Accountants

and Statutory Auditors

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

Virgin Money UK PLC.

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

REVIEW OF BUSINESS

FWG Sales Ltd (FWG) was incorporated in 2011, offering retailers access to quality imported and UK sourced bedroom furniture.

With a range of supplier partners across the UK, Europe and Asia, we have gained an excellent reputation among some of the UK's leading furniture retailers.

UK customers include several well-known high street and online retailers, as well as independent retail stores.

Our knowledgeable and experienced team work closely with clients on:

- Design: Designing and producing bespoke product requirements.

- Range selection: Advising and helping select the full range for client's customers (available on an exclusive or non-exclusive basis).

- Overseas sourcing and supply: Assisting with identification, contact, ongoing liaison and management.

- Quality Management: Experienced overseas factory teams in place to address issues and provide in line support.

- Import Management: Set up, organisation, coordination and administration.

- Storage: A range of facilities available.

- Spares supply: Accessible from our wide international support chain.

- Delivery: From container direct to retail customers, to delivery to consumers' homes.

FWG invests in its supply chain audit and compliance processes, ensuring complete confidence in our product and easing the burden of compliance responsibilities on retail partners.

Whilst our UK competitors offer similar services, none offer as broad and diverse a range of supply chain solutions. FWG's focus on compliance and quality relieves the potential for negative customer perception, often associated with sourcing goods from the Far East.

Financial performance

FWG is pleased to report another strong performance for the year ended 31 March 2025.

During the year, the FWG product offering has been expanded, enabling partnerships with new customers but also opening the opportunity to increase the range of furniture available to existing customers. Early performance has been very encouraging and provides scope for improvement in the new financial year.

The challenge of increased compliance standards across the furniture industry has been met head-on with FWG's dedicated team, working closely with our trading partners to fulfil additional reporting requirements and to be proactive in preparing for ever more demanding audit scrutiny. The cost of increasing the size of the team has been absorbed through a small restructuring programme, leaving total salary costs lower than prior year.

The financial year also saw the reworking of FWG's 'made to order' service, with a view to reducing waiting time for customers through faster order fulfilment times. Feedback has been very positive, with customers appreciating the option of a wider choice without having to endure the longer delivery times usually associated with a more personalised approach.

Overall, the outlook for FWG remains strong and the Directors are confident of a continued robust performance.

PRINCIPAL RISKS AND UNCERTAINTIES

Credit risk

Risks are assessed by the company's management based on prior experience and the company's assessment of the strength of their trading partners. The company has a background of relationship longevity with its trading partners. As most of the customers are major UK retailers, the risk is limited.

The process is subject to continuous reviews and reassessments and, as the customer base in particular expands to smaller entities, the requirement for trade insurance will be considered.

Currency risk

The company's currency risk is limited, as the majority of Asia sourced products are bought and sold in USD.

The risk of currency changes has been considered and weighed up against the cost to administer a more detailed currency risk management and it has been deemed that the costs would outweigh the benefit. However, as the business models change, the currency risk is considered, particularly in pricing arrangements, where the customer contracts include provision for a change in price, should the currency exchange rates change significantly.

Macro-economic risk

The principal risks to the business are considered to be those associated with ongoing political and business uncertainty that is creating instability in the world, impacting currency and trade markets.

It has been assessed that, whether the business trades across the world as an importer or within the UK, there will always be the potential for macro-economic impacts.

Interest rate risk

With changes in the world economy and fluctuation in currency exchange rates, there is an exposure to the company of increasing interest rates on its borrowings. The sensitivity to increases in the Bank of England rate have been assessed as manageable. A proportion of the borrowings are at a fixed rate, which limits the exposure to interest rate increases.

As there is a strong repayment programme in place, this also means the associated risk reduces over time.

ON BEHALF OF THE BOARD:

A M McClements - Director

19th November 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the wholesale of bedroom furniture.

DIVIDENDS

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

DIRECTORS

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

The beneficial interests of the directors holding office at 31st March 2025 in the shares of the company, according to the register of directors' interests, were as follows:

31.3.25

1.4.24

Ordinary shares of £1 each

A M McClements

4,900

4,900

J Waugh

4,900

4,900

These directors did not hold any non-beneficial interests in the shares of 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). 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, M. D. Coxey and Co. Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A M McClements - Director

19th November 2025

Opinion

We have audited the financial statements of FWG Sales Limited (the 'company') for the year ended 31st March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, 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 31st 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:

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

management;

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

management and inspecting legal correspondence; 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 where they considered there was susceptibility to fraud, their knowledge of

actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations;

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;

- assessed whether judgements and assumptions made in determining accounting estimates were indicative of

potential bias; and

- investigated the rationale behind significant or unusual transactions;

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.

Anthony Lewis (Senior Statutory Auditor)

for and on behalf of M. D. Coxey and Co. Limited

Chartered Accountants

and Statutory Auditors

25 Grosvenor Road

Wrexham

LL11 1BT

19th November 2025

TURNOVER

3

25,144,804

24,652,623

Cost of sales

21,422,398

20,900,908

GROSS PROFIT

3,722,406

3,751,715

Administrative expenses

2,752,459

2,932,990

969,947

818,725

Other operating income

4

353

-

OPERATING PROFIT

6

970,300

818,725

Interest receivable and similar income

7

-

1,081

970,300

819,806

Interest payable and similar expenses

8

130,078

169,390

PROFIT BEFORE TAXATION

840,222

650,416

Tax on profit

9

213,765

164,398

PROFIT FOR THE FINANCIAL YEAR

626,457

486,018

Retained earnings at beginning of year

2,371,743

1,885,725

RETAINED EARNINGS AT END OF YEAR

2,998,200

2,371,743

FIXED ASSETS

Intangible assets

10

18,157

2,101

Tangible assets

11

213,257

182,111

231,414

184,212

CURRENT ASSETS

Stocks

12

985,625

976,208

Debtors

13

4,942,922

5,139,952

Cash at bank and in hand

60,505

95,992

5,989,052

6,212,152

CREDITORS

Amounts falling due within one year

14

3,175,943

3,863,442

NET CURRENT ASSETS

2,813,109

2,348,710

TOTAL ASSETS LESS CURRENT LIABILITIES

3,044,523

2,532,922

CREDITORS

Amounts falling due after more than one year

15

-

(111,111

)

PROVISIONS FOR LIABILITIES

19

(36,323

)

(40,068

)

NET ASSETS

3,008,200

2,381,743

CAPITAL AND RESERVES

Called up share capital

20

10,000

10,000

Retained earnings

2,998,200

2,371,743

SHAREHOLDERS' FUNDS

3,008,200

2,381,743

The financial statements were approved by the Board of Directors and authorised for issue on 19th November 2025 and were signed on its behalf by:

A M McClements - Director

Cash flows from operating activities

Cash generated from operations

1

1,039,468

803,275

Interest paid

(128,200

)

(167,227

)

Interest element of hire purchase payments paid

(1,878

)

(2,163

)

Tax paid

(69,472

)

23,915

Net cash from operating activities

839,918

657,800

Cash flows from investing activities

Purchase of intangible fixed assets

(20,000

)

-

Purchase of tangible fixed assets

(119,270

)

(119,307

)

Sale of tangible fixed assets

-

20,353

Interest received

-

1,081

Net cash from investing activities

(139,270

)

(97,873

)

Cash flows from financing activities

Loan repayments in year

(706,766

)

(512,074

)

Capital repayments in year

(16,858

)

(19,702

)

Amount withdrawn by directors

(12,511

)

-

Net cash from financing activities

(736,135

)

(531,776

)

(Decrease)/increase in cash and cash equivalents

(35,487

)

28,151

Cash and cash equivalents at beginning of year

2

95,992

67,841

Cash and cash equivalents at end of year

2

60,505

95,992

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

31.3.25

31.3.24

£

£

Profit before taxation

840,222

650,416

Depreciation charges

92,068

163,201

Finance costs

130,078

169,390

Finance income

-

(1,081

)

1,062,368

981,926

(Increase)/decrease in stocks

(9,417

)

37,880

Decrease/(increase) in trade and other debtors

209,541

(347,984

)

(Decrease)/increase in trade and other creditors

(223,024

)

131,453

Cash generated from operations

1,039,468

803,275

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 31st March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

60,505

95,992

Year ended 31st March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

95,992

67,841

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

95,992

(35,487

)

60,505

95,992

(35,487

)

60,505

Debt

Finance leases

(16,858

)

16,858

-

Debts falling due within 1 year

(1,320,216

)

595,655

(724,561

)

Debts falling due after 1 year

(111,111

)

111,111

-

(1,448,185

)

723,624

(724,561

)

Total

(1,352,193

)

688,137

(664,056

)

1.	STATUTORY INFORMATION

FWG Sales 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Status and principal activities

FWG Sales Limited is a company limited by shares, incorporated in England and Wales. Its Registered Office is Riverside House, River Lane, Saltney, Chester, CH4 8RQ.

The principal activity of the company is to act as a wholesaler designing, sourcing and buying beds, mattresses and associated furniture, and distributing them to large retail customers.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

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

The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Estimated useful lives and residual values of fixed assets

Depreciation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during current and prior accounting periods.

Turnover

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

Sales of goods

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when the risks and rewards of ownership have passed to the customer. This typically happens when goods are delivered and legal title has passed.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

Domain name is being amortised evenly over its estimated useful life of ten 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.

Land and buildings

-

at varying rates on cost

Plant and machinery

-

at varying rates on cost

Motor vehicles

-

33% on reducing balance and 25% on cost

Computer equipment

-

Straight line over 4 years

Land is not depreciated.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Costs include all direct expenditure.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument.

Cash and cash equivalents:

These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of three months or less.

Debtors:

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Trade creditors:

Trade creditors are not interest bearing and are stated at their nominal value.

Intra-group balances (being repayable on demand) are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

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 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.

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.

3.

TURNOVER

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

The company's turnover arose wholly within the United Kingdom.

4.	OTHER OPERATING INCOME

31.3.25

31.3.24

£

£

Other income

353

-

5.	EMPLOYEES AND DIRECTORS

31.3.25

31.3.24

£

£

Wages and salaries

1,378,949

1,448,482

Social security costs

147,164

151,324

Other pension costs

99,666

101,374

1,625,779

1,701,180

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

31.3.25

31.3.24

Management

4

4

Administration

29

29

33

33

31.3.25

31.3.24

£

£

Directors' remuneration

-

-

6.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

£

Other operating leases

160,108

167,893

Depreciation - owned assets

88,124

52,380

Depreciation - assets on hire purchase contracts

-

13,998

Development costs amortisation

2,944

96,323

Domain name amortisation

1,000

500

Foreign exchange differences

23,750

32,354

Auditors remuneration

22,310

21,425

Auditors remuneration for non audit work

6,600

6,646

7.

INTEREST RECEIVABLE AND SIMILAR INCOME

31.3.25

31.3.24

£

£

Corporation tax interest

-

1,081

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.25

31.3.24

£

£

Bank interest

29,799

29,089

Bank loan interest

96,337

138,138

Interest payable

2,064

-

Hire purchase

1,878

2,163

130,078

169,390

9.

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

218,260

122,286

Deferred tax

(4,495

)

42,112

Tax on profit

213,765

164,398

UK corporation tax has been charged at 25% (2024 - 25%).

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

840,222

650,416

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

210,056

162,604

Effects of:

Expenses not deductible for tax purposes

4,459

2,440

Deferred tax rate adjustment

(750

)

(646

)

Total tax charge

213,765

164,398

10.	INTANGIBLE FIXED ASSETS

Development

Domain

Goodwill

costs

name

Totals

£

£

£

£

COST

At 1st April 2024

1,660,000

192,646

10,000

1,862,646

Additions

-

20,000

-

20,000

At 31st March 2025

1,660,000

212,646

10,000

1,882,646

AMORTISATION

At 1st April 2024

1,660,000

192,646

7,899

1,860,545

Amortisation for year

-

2,944

1,000

3,944

At 31st March 2025

1,660,000

195,590

8,899

1,864,489

NET BOOK VALUE

At 31st March 2025

-

17,056

1,101

18,157

At 31st March 2024

-

-

2,101

2,101