REGISTERED NUMBER: 14785166 (England and Wales)

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

DUNCAN & TOPLIS GROUP LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

5

Report of the Independent Auditors

7

Statement of Income and Retained Earnings

11

Statement of Financial Position

12

Notes to the Financial Statements

13

DIRECTORS:

D A Brain

M N Smith

REGISTERED OFFICE:

3 Castlegate

Grantham

United Kingdom

Lincolnshire

NG31 6SF

REGISTERED NUMBER:

14785166 (England and Wales)

SENIOR STATUTORY AUDITOR:

Sarah Mason FCA

AUDITORS:

RSM UK Audit LLP

4th Floor

100 Avebury Boulevard

Milton Keynes

MK9 1FH

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

REVIEW OF BUSINESS

During the year the Duncan & Toplis Group continued to advance further towards our strategic vision that:

We will be the firm that clients always choose to work with and where talented people belong.

We are committed to nurturing our company culture. The values of Trust, Inclusivity, and Partnership remain central to our actions, shaping how our team interacts with clients, colleagues, and our communities.

Business outlook

We continue to focus on building our service offering, ensuring that we deliver unparalleled value to our clients. Our dedication to innovation and excellence drives us to refine our processes, embrace new technologies, and deepen our expertise. By continually seeking feedback and staying attuned to the evolving needs of our clients, we aim to enhance our audit services and provide insights that support their success.

Environmental, Social, and Governance

Being the right kind of business for our team and clients is key to who we are. This is why the work our sustainability group has been doing with our ESG programme is an important part of our future. We will be working on our objectives in this area and with an eye on net zero, yet another example of our team being ready to bring their whole selves to work, sharing their thoughts and ideas on our collective future.

PRINCIPAL RISKS AND UNCERTAINTIES

The key risks affecting the company are set out below:

Clients

To reduce the potential loss of custom, the company values integrity and seeks to conduct its business with professionalism and aspires to provide excellent service in the eyes of our clients.

Team

The business is dependent upon the professional development, recruitment, and retention of high-quality team members. We continue to invest in training and developing our team. The company respects and cares for its people and invests in their career potential. The company monitors remuneration levels against the wider market and provides a flexible working environment and remuneration package.

Liquidity risk

The company seeks to manage this risk by ensuring sufficient liquidity is available to meet financial obligations through managing cash generation and applying billing and cash collection targets throughout the company.

Legal risk

In the ordinary course of business, certain aspects of the company's services are opinion-based and may be subject to challenge. Where appropriate, the company seeks third-party professional corroboration. In addition, the company has appropriate professional indemnity insurance.

Regulatory risk

Changes in the regulatory environment that affect the company and its clients may reduce the level of services required, but equally enable the company to take advantage of opportunities.

Strategic risk

The challenges of integrating acquired companies and/or teams and realising the expected synergies can impact on business performance. The business has identified key roles that will aid in harmonising M&A activity, leading to successful growth.

CONCLUSION

This year was both successful and transformative for our firm, as we underwent a period of significant growth via acquisition supported by private equity firm, The Blixt Group. We saw robust performance and growth. We take pride in our achievements and are deeply appreciative of the support and contributions from our partners, our people, our clients, and our communities.

With a clear and ambitious strategic vision, we are confident and optimistic about our future. Our robust and resilient business model provides a strong foundation. We are eager to continue our journey of excellence and innovation, creating and delivering value and impact to our people, clients, and communities.

STATEMENT OF COMPLIANCE WITH DUTY TO PROMOTE THE SUCCESS OF THE COMPANY

The directors set out their statement of compliance with s172(1) of the Companies Act 2006 which should be read in conjunction with the rest of the annual report.

The Board ensures that decisions are always taken for the long term, and collectively aims to uphold the highest standards of conduct. Similarly, it acknowledges that the company's employees, suppliers and clients are their most important assets, and the business can only grow and prosper over the long-term if it understands, respects and responds to their views and needs, as well as those of other stakeholders.

The Board has identified the following stakeholder groups with whom engagement is fundamental to the company's ongoing success:

Shareholders

The key issues of concern to shareholders are return on investment, business performance and sustainability. The company engages with its shareholders in various ways including meetings, annual report and management accounts.

Employees

The company's people are central to our success, and we are committed to providing a working environment that promotes our employees' wellbeing whilst facilitating their development and performance. The key issue of concern to employees are health and safety, engagement, development, diversity and inclusion. The company engages with this stakeholder group in various ways including its clarity of values and culture, health & safety programmes, equality and diversity programmes, professional development and other learning & development programmes, employee surveys, meetings and business updates.

Clients

The key issue of concern to clients are quality of service, value for money and availability of services. The company engages with this stakeholder group in various ways including its dedication to excellent service, dedicated client advisers, gathering of client feedback, undertaking client surveys and proactive communication through email, social media and events and meetings.

Suppliers

The key issue of concern with suppliers are our payment and responsible sourcing policies. The company engages in various ways including emails, meetings and identified supplier contacts.

Communities and the environment

The key issues of concern with regards the company's relationship with communities are the environment and the local areas in which the company operates. The company engages with this stakeholder group by encouraging its employees to become involved and through the Duncan & Toplis Foundation to lead fundraising initiatives and increase the impact of our team's charitable activities. The company recognises the importance in playing a greater role in supporting people and the natural environment, recently achieving independent validation of its journey to being a carbon-neutral organisation within the next five to eight years.

Regulators

The key issue of concern with regulators is the company's compliance with applicable laws and regulations, delivery of the highest business standards and positive outcomes for clients. The company employs dedicated compliance roles and maintains open and transparent relationships with all its regulators.

ON BEHALF OF THE BOARD:

D A Brain - Director

9 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 a holding company.

DIVIDENDS

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

DIRECTORS

D A Brain has held office during the whole of the period from 1 April 2024 to the date of this report.

Other changes in directors holding office are as follows:

A N Reynolds - resigned 7 June 2024

M N Smith - appointed 7 June 2024

FINANCIAL INSTRUMENTS

The company does not actively use financial instruments as part of its financial risk management.

The Groups principal financial instruments comprise bank balances, trade debtors, trade creditors, preference shares and loan notes. The preference shares entitle the owners to a fixed preference dividend of 10% per annum. The loan notes accrue interest at a fixed rate of 8.5% per annum.

In respect of bank balances, liquidity risk is managed by maintaining a balance between continuity of funding and flexibility through availability of overdrafts at floating rates of interest. All of the Group's cash balances are held in such a way that achieves a competitive rate of interest.

POLITICAL DONATIONS AND EXPENDITURE

No political donations have been made in the year by either the Company or its subsidiaries.

STREAMLINED ENERGY AND CARBON REPORTING EXEMPTION

The company has taken the exemption for the SECR disclosure as the company has minimal trading expenses and therefore the energy consumption is less than 40,000 kWh in the year.

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.

ON BEHALF OF THE BOARD:

D A Brain - Director

9 December 2025

Opinion

We have audited the financial statements of Duncan & Toplis Group Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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.

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 course of 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 six, 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 are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, to perform audit procedures to help identify instances of non-compliance with other laws and regulations that may have a material effect on the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team:

- obtained an understanding of the nature of the industry and sector, including the legal and regulatory frameworks that the company operates in and how the company is complying with the legal and regulatory frameworks;

- inquired of management, and those charged with governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instances of fraud;

- discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to fraud.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are FRS 102, the Companies Act 2006 and tax compliance regulations. We performed audit procedures to detect non-compliances which may have a material impact on the financial statements which included reviewing financial statement disclosures and inspecting correspondence with local tax authorities where available.

The most significant laws and regulations that have an indirect impact on the financial statements are those in relation to Money Laundering Regulations 2017, Employment Rights Act 1996 and General Data Protection Regulations (2018). We performed audit procedures to inquire of management whether the company is in compliance with these laws and regulations and inspected correspondence with licensing or regulatory authorities where available.

The audit engagement team identified the risk of management override of controls and revenue recognition as the areas where the financial statements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments and evaluating the business rationale in relation to significant, unusual transactions and transactions entered into outside the normal course of business, substantively testing revenue transactions and challenging judgments and estimates applied.

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.

Sarah Mason FCA (Senior Statutory Auditor)

for and on behalf of RSM UK Audit LLP

4th Floor

100 Avebury Boulevard

Milton Keynes

MK9 1FH

9 December 2025

TURNOVER

-

-

Administrative expenses

2

-

OPERATING LOSS

4

(2

)

-

Income from fixed asset investments

1,292

269

Interest receivable and similar income

743

205

2,035

474

2,033

474

Amounts written off investments

5

-

60

2,033

414

Interest payable and similar expenses

6

665

205

PROFIT BEFORE TAXATION

1,368

209

Tax on profit

7

76

26

PROFIT FOR THE FINANCIAL YEAR

1,292

183

Retained earnings at beginning of year

183

-

RETAINED EARNINGS AT END OF YEAR

1,475

183

FIXED ASSETS

Investments

8

30,393

30,393

CURRENT ASSETS

Debtors

9

11,564

3,996

CREDITORS

Amounts falling due within one year

10

10,089

3,813

NET CURRENT ASSETS

1,475

183

TOTAL ASSETS LESS CURRENT LIABILITIES

31,868

30,576

CAPITAL AND RESERVES

Called up share capital

12

30,393

30,393

Retained earnings

13

1,475

183

SHAREHOLDERS' FUNDS

31,868

30,576

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

D A Brain - Director

1.	STATUTORY INFORMATION

Duncan & Toplis Group 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.

These financial statements have been prepared in £ sterling on the going concern basis.

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.

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 requirement of paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about Duncan & Toplis Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its ultimate parent, Kinbrook Holdings Limited, registered in England and Wales.

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

The directors make estimates and assumptions concerning the future. The directors are also required to exercise judgement in the process of applying the company's accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Judgements

Impairment of fixed assets

The directors review the carrying value of investments for indication of impairment at each reporting date. If indicators of impairment exist, the carrying value of the investment is subject to further testing to determine whether its carrying value exceeds the recoverable amount. This process will usually involve the estimation of future cash flows which are likely to be generated by the asset. Where the carrying value exceeds the estimated recoverable amount of an investment an impairment provision is made.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any accumulated impairment.

Financial instruments

Basic financial assets, including trade and other debtors 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.

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 the income statement.

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts 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. 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 March 2025 nor for the period ended 31 March 2024.

The average number of employees during the year was NIL (2024 - NIL).

Period

6.4.23

Year Ended

to

31.3.25

31.3.24

£

£

Directors' remuneration

-

-

4.	OPERATING LOSS

The operating loss is stated after charging:

Period

6.4.23

Year Ended

to

31.3.25

31.3.24

£'000

£'000

Auditors' remuneration

2

-

5.

AMOUNTS WRITTEN OFF INVESTMENTS

Period

6.4.23

Year Ended

to

31.3.25

31.3.24

£'000

£'000

Amounts w/o invs

-

60

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

6.4.23

Year Ended

to

31.3.25

31.3.24

£'000

£'000

Other interest

665

205

7.

TAXATION

Analysis of the tax charge

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

Period

6.4.23

Year Ended

to

31.3.25

31.3.24

£'000

£'000

Current tax:

UK corporation tax

76

26

Tax on profit

76

26

8.	FIXED ASSET INVESTMENTS

Subsidiary undertakings

The following were subsidiary undertakings of the company:

Name

Class of shares

Holding

Address (below)

Principal activity

Duncan & Toplis Limited

Ordinary

100%

1

Accountants

Duncan & Toplis Legal Services Limited

Ordinary

100%

1

Solicitors

Duncan & Toplis Trustees Limited*

Ordinary

100%

1

Dormant

Kreston Duncan & Toplis Limited*

Ordinary

100%

1

Dormant

Duncan & Toplis Kreston Limited*

Ordinary

100%

1

Dormant

Castlegate Financial Management Limited

Ordinary

100%

2

Independent financial advisers

Castlegate Pension Administration Limited*

Ordinary

100%

2

Pension related services

Castlegate Trustees Limited*

Ordinary

100%

2

Dormant

Castlegate Independent Financial Advisers Limited*

Ordinary

100%

2

Dormant

Castlegate Wealth Management Limited*

Ordinary

100%

2

Dormant

Castlegate Wealth (Holdings) Limited*

Ordinary

100%

2

Dormant

Datcom LLP

Member

66.7%

3

IT hardware and maintenance

Richard James Green Limited*

Ordinary

100%

1

Dormant

Gary Underwood Limited*

Ordinary

100%

1

Dormant

Richard James Green Limited*

Ordinary

100%

1

Dormant

Torr Waterfield Limited* (acquired post reporting date)

Ordinary

100%

1

Dormant

* indicates an indirect subsidiary undertaking of the company.

Ref above Registered Office

1 3 Castlegate, Grantham NG31 6SF

2 8 Castlegate, Grantham NG31 6SE

3 Lynx House, Elmer Street South, Grantham NG31 6QY

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£'000

£'000

Amounts owed by group undertakings

11,366

3,967

Amounts owed by participating interests

198

29

11,564

3,996

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£'000

£'000

Amounts owed to group undertakings

10,013

3,787

Tax

76

26

10,089

3,813

11.	FINANCIAL INSTRUMENTS

At the financial reporting date the company had the following financial instruments:

2025

2024

£'000

£'000

Financial assets that are debt instruments measured at amortised cost

Amounts owed by group undertakings

11,366

3,967

Amounts owed by participating interests

198

29

Financial liabilities measured at amortised cost

Amounts owed to group undertakings

10,012

3,787

Other creditors due within one year

79

26

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£'000

£'000

60,786,832

H1

50p

30,393

30,393

There is a single class of ordinary shares. There are no restrictions on dividends and the repayment of capital.

13.

RESERVES

Retained

earnings

£'000

At 1 April 2024

183

Profit for the year

1,292

At 31 March 2025

1,475

14.	ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Kinbrook Midco 2 Limited. The registered office of the parent company is 10 Ledbury Mews North, London W11 2AF. The ultimate controlling party is Carl Michael Steve Harring.