REGISTERED NUMBER: 01780818 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 30th June 2025

for

Allan Webb Ltd

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

DIRECTORS:

Ms A Baxter

J C Hardcastle

I J Hayes

A R Lloyd

S M G P Rigsby

Ms E M Webb

G D Jones

SECRETARY:

I J Hayes

REGISTERED OFFICE:

Red Lodge

Bonds Mill Estate

Stonehouse

Gloucestershire

GL10 3RF

REGISTERED NUMBER:

01780818 (England and Wales)

AUDITORS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

United Kingdom

BS32 4JY

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

REVIEW OF BUSINESS

The company has continued to follow it's strategy to deliver sustainable profitable growth through the provision of supportability expertise and data analytics, primarily into the UK defence sector. The directors are pleased with the strong financial performance for the year ending 30 June 2025.

The key performance indicators for the year were as follows:

2025

2024

£'000

£'000

Turnover

18,903

19,546

Gross Profit

3,465

4,931

Reported EBITDA

1,586

2,092

Adjusted EBITDA*

1,730

2,236

* Adjusted EBITDA is calculated as EBITDA before exceptional and non-recurring items.

The position of net assets as at year end was £3,337,124, (£2,742,348).

The directors are expecting a continued strong financial performance in the current financial year, underpinned by continuity of multi-year contracts. The company is positioned well to continue to capitalise on it's strong reputation and future opportunities within it's core defence market. Particularly considering the ongoing geopolitical climate and the UK Government's desire to support sovereign national security capabilities.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks relate to market demand, although there are no indicators to suggest that future demand will diminish and is, in fact, expected to expand.

The company considers working capital management, particularly cash flow to be the key management of the company. By monitoring cash flow as part of its day-to-day control procedures, we are confident that no liquidity risk should arise based on regular operations.

ON BEHALF OF THE BOARD:

A R Lloyd - Director

1st December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the provision of data driven support solutions focussed on technical publications, obsolescence management, supportability engineering and supply chain and logistics to a range of customers in the defence and commercial sectors.

DIVIDENDS

The total distribution of dividends for the year ending June 2025 is £655,943 (2024 £nil).

Final dividends for the year ending June 2023 was £1,381,396 and was paid on 23 September 2024.

DIRECTORS

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

Ms A Baxter

J C Hardcastle

I J Hayes

A R Lloyd

S M G P Rigsby

Ms E M Webb

G D Jones

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, Dunkley's, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A R Lloyd - Director

1st December 2025

Opinion

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

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30th June 2025 and of its profit for the year then ended;

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

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

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

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

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

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

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

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

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

Responsibilities of directors

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

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

Auditors' responsibilities for the audit of the financial statements

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

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, bonus levels and performance targets;

- any matters we identified, having obtained and reviewed the company's documentation of their policies and procedures relating to:

o identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

o detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

o the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the areas of management override of controls, and revenue recognition.

We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements.

Audit response to risks identified

Our procedures to respond to risks identified included the following:

- enquiring of management, concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

Lisa White FCCA (Senior Statutory Auditor)

for and on behalf of Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

United Kingdom

BS32 4JY

1st December 2025

TURNOVER

18,902,855

19,545,794

Cost of sales

(15,438,002

)

(14,614,329

)

GROSS PROFIT

3,464,853

4,931,465

Distribution costs

(98,807

)

(286,252

)

Administrative expenses

(1,953,366

)

(2,686,010

)

1,412,680

1,959,203

Other operating income

18,265

4,519

OPERATING PROFIT

4

1,430,945

1,963,722

Interest receivable and similar income

49,946

56,372

PROFIT BEFORE TAXATION

1,480,891

2,020,094

Tax on profit

5

(226,065

)

(407,525

)

PROFIT FOR THE FINANCIAL YEAR

1,254,826

1,612,569

PROFIT FOR THE YEAR

1,254,826

1,612,569

OTHER COMPREHENSIVE INCOME

Profit and loss account

-

(448,144

)

Capital redemption

-

190

Income tax relating to components of other comprehensive income

-

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

-

(447,954

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,254,826

1,164,615

FIXED ASSETS

Intangible assets

7

-

7,500

Tangible assets

8

159,030

195,136

159,030

202,636

CURRENT ASSETS

Debtors

9

4,241,305

3,729,247

Cash at bank and in hand

1,946,217

3,667,610

6,187,522

7,396,857

CREDITORS

Amounts falling due within one year

10

2,968,856

4,802,746

NET CURRENT ASSETS

3,218,666

2,594,111

TOTAL ASSETS LESS CURRENT LIABILITIES

3,377,696

2,796,747

PROVISIONS FOR LIABILITIES

12

36,465

54,399

NET ASSETS

3,341,231

2,742,348

CAPITAL AND RESERVES

Called up share capital

13

1,545

1,545

Share premium

14

741,954

741,954

Capital redemption reserve

14

225

225

Retained earnings

14

2,597,507

1,998,624

SHAREHOLDERS' FUNDS

3,341,231

2,742,348

The financial statements were approved by the Board of Directors and authorised for issue on 1st December 2025 and were signed on its behalf by:

A R Lloyd - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 1st July 2023

1,271

2,215,595

485,834

35

2,702,735

Changes in equity

Issue of share capital

274

-

256,120

-

256,394

Dividends

-

(1,381,396

)

-

-

(1,381,396

)

Total comprehensive income

-

1,164,425

-

190

1,164,615

Balance at 30th June 2024

1,545

1,998,624

741,954

225

2,742,348

Changes in equity

Dividends

-

(655,943

)

-

-

(655,943

)

Total comprehensive income

-

1,254,826

-

-

1,254,826

Balance at 30th June 2025

1,545

2,597,507

741,954

225

3,341,231

Cash flows from operating activities

Cash generated from operations

1

(641,281

)

3,029,397

Tax paid

(412,907

)

(282,178

)

Net cash from operating activities

(1,054,188

)

2,747,219

Cash flows from investing activities

Purchase of tangible fixed assets

(61,208

)

(94,761

)

Interest received

49,946

56,372

Net cash from investing activities

(11,262

)

(38,389

)

Cash flows from financing activities

Share issue

-

274

Equity dividends paid

(655,943

)

(1,381,396

)

Increase in share premium

-

256,119

Purchase of own shares

-

(448,144

)

Increase in capital redemption reserve

-

190

Net cash from financing activities

(655,943

)

(1,572,957

)

(Decrease)/increase in cash and cash equivalents

(1,721,393

)

1,135,873

Cash and cash equivalents at beginning of year

2

3,667,610

2,531,737

Cash and cash equivalents at end of year

2

1,946,217

3,667,610

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

30.6.25

30.6.24

£

£

Profit before taxation

1,480,891

2,020,094

Depreciation charges

104,814

134,154

Finance income

(49,946

)

(56,372

)

1,535,759

2,097,876

Increase in trade and other debtors

(512,058

)

(81,903

)

(Decrease)/increase in trade and other creditors

(1,664,982

)

1,013,424

Cash generated from operations

(641,281

)

3,029,397

2.	CASH AND CASH EQUIVALENTS

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

Year ended 30th June 2025

30/6/25

1/7/24

£

£

Cash and cash equivalents

1,946,217

3,667,610

Year ended 30th June 2024

30/6/24

1/7/23

£

£

Cash and cash equivalents

3,667,610

2,531,737

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/7/24

Cash flow

At 30/6/25

£

£

£

Net cash

Cash at bank and in hand

3,667,610

(1,721,393

)

1,946,217

3,667,610

(1,721,393

)

1,946,217

Total

3,667,610

(1,721,393

)

1,946,217

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Revenue recognition

Revenue will not be recognised unless it is probable that economic benefit will flow to the company and the amount can be measured reliably.

Rendering of services

Revenue is recognised on a straight line basis over the specified milestones or on completion of the service.

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.

Patents and licences are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets

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

Plant and machinery

-

25% on cost and 12.5% on cost

Motor vehicles

-

25% on cost

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.

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

30.6.25

30.6.24

£

£

Wages and salaries

13,031,350

12,375,381

Social security costs

1,488,645

1,312,390

Other pension costs

778,223

794,223

15,298,218

14,481,994

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

30.6.25

30.6.24

Administration and support

43

40

Sales

9

6

Other

234

217

286

263

30.6.25

30.6.24

£

£

Directors' remuneration

887,888

1,004,758

Directors' pension contributions to money purchase schemes

55,522

170,824

Compensation to director for loss of office

-

10,000

Information regarding the highest paid director is as follows:

30.6.25

30.6.24

£

£

Emoluments etc

221,662

192,818

Pension contributions to money purchase schemes

13,276

14,756

4.	OPERATING PROFIT

The operating profit is stated after charging:

30.6.25

30.6.24

£

£

Depreciation - owned assets

97,314

119,153

Patents and licences amortisation

7,500

15,000

Auditors' remuneration

16,516

8,525

5.

TAXATION

Analysis of the tax charge

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

30.6.25

30.6.24

£

£

Current tax:

UK corporation tax

243,999

410,318

Deferred tax

(17,934

)

(2,793

)

Tax on profit

226,065

407,525

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 30th June 2025.

30.6.24

Gross

Tax

Net

£

£

£

Profit and loss account

(448,144

)

-

(448,144

)

Capital redemption

190

-

190

(447,954

)

-

(447,954

)

6.

DIVIDENDS

30.6.25

30.6.24

£

£

Ordinary shares of £0.1 each

Final

655,943

1,381,396

7.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1st July 2024

and 30th June 2025

60,000

AMORTISATION

At 1st July 2024

52,500

Amortisation for year

7,500

At 30th June 2025

60,000

NET BOOK VALUE

At 30th June 2025

-

At 30th June 2024

7,500

8.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st July 2024

1,061,902

15,477

1,077,379

Additions

61,208

-

61,208

Disposals

(97,428

)

-

(97,428

)

At 30th June 2025

1,025,682

15,477

1,041,159

DEPRECIATION

At 1st July 2024

866,766

15,477

882,243

Charge for year

97,314

-

97,314

Eliminated on disposal

(97,428

)

-

(97,428

)

At 30th June 2025

866,652

15,477

882,129

NET BOOK VALUE

At 30th June 2025

159,030

-

159,030

At 30th June 2024

195,136

-

195,136