REGISTERED NUMBER: 02147219 (England and Wales)

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31st March 2025

for

Central Models Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Income and Retained Earnings

8

Statement of Financial Position

9

Notes to the Financial Statements

10

DIRECTORS:

Jason Mathew Varley

Mark Paul Varley

SECRETARY:

Jason Mathew Varley

REGISTERED OFFICE:

Saxon House

Saxon Business Park

Hanbury Road

Bromsgrove

Worcestershire

B60 4AD

REGISTERED NUMBER:

02147219 (England and Wales)

AUDITORS:

Richards Sandy Audit Services Limited

(Statutory Auditor)

Thorneloe House

25 Barbourne Road

Worcester

WR1 1RU

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

REVIEW OF BUSINESS

Review of the business and future prospects

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

The Company's principal activities during the year have remained unchanged.

Despite increased costs not passed on to customers, the company managed to obtain sales levels similar to previous years, whilst also achieving a gross profit margin at a comparable level to the prior year.

The Directors consider that measures have been taken during the year to contribute to maximising profits in future years.

Results and Key Performance Indicators

Turnover has increased from £10,964,239 to £11,280,885, an increase of 2.9% during the year (2024 - increase of 0.4%).

The gross profit percentage was 28.7% compared with 28.1% in the previous year.

The profit for the year before taxation, was £834,523 compared to £974,032 last year.

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors have identified certain significant risks to the business and these are identified below together with measures which have been taken to mitigate them.

Cash Flow. The period of strong growth seen in the past few years has afforded the company the ability to grow cash reserves and cease any reliance on bank funding. The situation will continue to be closely monitored, the Directors consider that resources are sufficient to meet all foreseeable requirements.

Exchange Rates. Where the Company is trading in currencies other than Sterling these currencies are immediately converted into Sterling. If, in the view of the Directors, there is a continuing risk of adverse exchange conditions the Directors will purchase forward cover.

Interest Rates. The unprecedented low level of interest rates seen in earlier years has ceased after the year end, with rising levels of inflation, resulting in interest rate rises. The Directors do not expect the increase will materially influence the Company's profitability in the near future.

Inflation. Whilst interest rates remain relatively low, the country is seeing higher than usual levels of inflation. this is in part caused by supply difficulties and increased demand. The Directors have increased stock levels in the year in an attempt to overcome some of the future price rises and supply issues.

Customers. The Company is working with Customers who do not pose a significant risk of non-payment, although their finances are monitored. Business is secured from different business units, so that the closure of one would not be expected to pose significant problems to the Company.

Business interruption. Contingency plans have been prepared to enable us to react swiftly to rectify any interruption caused by failure of computer systems or utilities.

The Directors have reviewed the Company's insurance policies which are fully up to date.

The Company takes comprehensive measures to ensure the health and safety of employees and the environment in which they work. The Directors consider that the Company is fully compliant with all relevant legislation.

RESEARCH AND DEVELOPMENT

Research and development activities continues to be a high priority with the development of new products and maintaining the technological excellence of existing products. During the year, Central Models Limited invested resources into advancing its activities and procedures to provide high quality goods to its customers.

ON BEHALF OF THE BOARD:

Jason Mathew Varley - Director

22nd December 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 wholesale and retail sales of model cars, boats and planes together with spares and accessories.

DIVIDENDS

The company issued total interim in the year of £203,720 (2024 - £209,700).

The directors do not recommend a final dividend be issued in regards to the current financial year.

DIRECTORS

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

Jason Mathew Varley

Mark Paul Varley

DISCLOSURE IN THE STRATEGIC REPORT

Information regarding financial risk management objectives and policies and research and development activities are set out in the strategic report.

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 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:

Jason Mathew Varley - Director

22nd December 2025

Opinion

We have audited the financial statements of Central Models Limited (the 'company') for the year ended 31st 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 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

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, we have:

-

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

-

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.

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Companies Act 2006 (and related legislation), laws and regulations relating to the employment and payment of staff including, but not limited to, the Employment Rights Act 1996, the National Minimum Wage Act 1998 and the Pensions Act 2008, and laws and regulations relating to tax compliance, specifically corporation tax and VAT.

We performed audit procedures to detect non-compliances which may have a material impact on the financial statements, which included reviewing the financial statement disclosures. This includes sample testing of monthly payroll records for the calculation of gross wages, payroll taxes and pension costs. We have also reviewed corporation tax and VAT calculation for the year for indications of material errors, including testing of the VAT treatment on a sample of sales and purchases.

We identified the areas of the financial statements most susceptible to fraud to be management's judgement in calculating stock impairment provisions. Audit procedures performed included, but were not limited to, reviewing managements reasoning and workings behind these calculations.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Miss Aimee Stinton FCCA (Senior Statutory Auditor)

for and on behalf of Richards Sandy Audit Services Limited

(Statutory Auditor)

Thorneloe House

25 Barbourne Road

Worcester

WR1 1RU

22nd December 2025

TURNOVER

4

11,280,885

10,964,239

Cost of sales

8,048,376

7,884,945

GROSS PROFIT

3,232,509

3,079,294

Distribution costs

337,523

285,129

Administrative expenses

2,130,549

1,868,508

2,468,072

2,153,637

764,437

925,657

Other operating income

4,181

29,928

OPERATING PROFIT

7

768,618

955,585

Interest receivable and similar income

9

89,462

39,241

858,080

994,826

Interest payable and similar expenses

10

23,557

20,794

PROFIT BEFORE TAXATION

834,523

974,032

Tax on profit

11

211,816

245,775

PROFIT FOR THE FINANCIAL YEAR

622,707

728,257

Retained earnings at beginning of year

5,601,983

5,083,426

Dividends

12

(203,720

)

(209,700

)

RETAINED EARNINGS AT END OF YEAR

6,020,970

5,601,983

FIXED ASSETS

Tangible assets

13

126,054

89,989

Investments

14

50,000

100,000

176,054

189,989

CURRENT ASSETS

Stocks

15

2,422,303

2,646,577

Debtors

16

2,568,053

1,587,560

Cash at bank and in hand

3,202,070

3,308,108

8,192,426

7,542,245

CREDITORS

Amounts falling due within one year

17

2,260,654

2,067,478

NET CURRENT ASSETS

5,931,772

5,474,767

TOTAL ASSETS LESS CURRENT LIABILITIES

6,107,826

5,664,756

CREDITORS

Amounts falling due after more than one year

18

(59,279

)

(41,448

)

PROVISIONS FOR LIABILITIES

21

(27,477

)

(21,225

)

NET ASSETS

6,021,070

5,602,083

CAPITAL AND RESERVES

Called up share capital

22

100

100

Retained earnings

23

6,020,970

5,601,983

SHAREHOLDERS' FUNDS

6,021,070

5,602,083

The financial statements were approved by the Board of Directors and authorised for issue on 22nd December 2025 and were signed on its behalf by:

Mark Paul Varley - Director

Jason Mathew Varley - Director

1.	STATUTORY INFORMATION

Central Models 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.

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).

TURNOVER

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has passed to the buyer (usually on dispatch of the goods) and the amount of turnover can be measured reliably.

TANGIBLE FIXED ASSETS

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

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

FIXED ASSET INVESTMENTS

Unlisted investments are measured at cost less impairment.

STOCKS

Stock is stated at the lower of cost and estimated selling price less costs to sell. Stock is recognised as an expense in the period in which the related turnover from sale is recognised.

Cost is determined on the first-in, first-out (FIFO) method. Cost includes the purchase price, including taxes and duties and transport and handling directly attributable to bringing the stock to its present location and condition.

At the end of each reporting period stock are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

FINANCIAL INSTRUMENTS

Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash equivalents

Short term investment bonds with a maturity date of 3 months or less are considered cash equivalents and are classified as cash at bank and in hand on the balance sheet.

Basic Financial Assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

Basic Financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.

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.

FOREIGN CURRENCIES

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

LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

PENSION COSTS

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.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The company makes estimates and assumptions concerning the future. The resulting estimates will, by definition, seldom equal the actual results. The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Stock valuation

Stock is valued based on our cost. The value of stock is adjusted stock to the extent our management determines that the cost cannot be recovered due to obsolescence or other factors.

In order to make these determinations, management identify the last sale date of the stock item and apply a percentage reduction based on a set criteria. This approach assumes future demand will follow historic demand, which allows management to determine appropriate stock reserves and to make corresponding reductions in stock values to reflect the lower of cost or market value.

In the event of a sudden significant decrease in demand for products, or a higher incidence of stock obsolescence, an increase to the stock reserve would be required. Which would increase the cost of product sales and decrease gross profit.

4.

TURNOVER

Turnover relates to the sale of goods only.

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

875,064

808,919

Social security costs

84,633

76,995

Other pension costs

244,824

268,296

1,204,521

1,154,210

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

2025

2024

Employees

27

33

All staff pension costs relate only to defined contribution pension schemes.

6.	DIRECTORS' EMOLUMENTS

2025

2024

£

£

Directors' remuneration

65,575

73,232

Directors' pension contributions to money purchase schemes

125,800

112,600

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

Money purchase schemes

2

2

7.	OPERATING PROFIT

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

2025

2024

£

£

Hire of plant and machinery

194

182

Other operating leases

157,661

128,744

Depreciation - owned assets

42,533

35,417

Foreign exchange differences

(4,181

)

(29,928

)

Net movement on stock impairment provisions

144,283

(35,143

)

8.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

9,875

8,150

9.

INTEREST RECEIVABLE AND SIMILAR INCOME

2025

2024

£

£

Bank interest

89,462

39,241

10.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Interest on directors' loans

20,705

17,665

HMRC interest paid

25

-

Hire purchase interest

2,827

3,129

23,557

20,794

11.

TAXATION

Analysis of the tax charge

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

2025

2024

£

£

Current tax:

UK corporation tax

205,564

248,976

Prior year adjustments

-

1

Total current tax

205,564

248,977

Deferred tax:

Origination and reversal of timing differences

6,252

(3,202

)

Tax on profit

211,816

245,775

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:

2025

2024

£

£

Profit before tax

834,523

974,032

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

208,631

243,508

Effects of:

Expenses not deductible for tax purposes

2,999

2,173

Adjustments to tax charge in respect of previous periods

-

1

Depreciation on tangible fixed assets excluded from the capital allowance pool

186

93

Total tax charge

211,816

245,775

12.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Interim

203,720

209,700

13.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st April 2024

3,728

12,225

110,367

Additions

11,581

-

8,556

At 31st March 2025

15,309

12,225

118,923

DEPRECIATION

At 1st April 2024

3,357

8,904

77,959

Charge for year

743

831

10,242

At 31st March 2025

4,100

9,735

88,201

NET BOOK VALUE

At 31st March 2025

11,209

2,490

30,722

At 31st March 2024

371

3,321

32,408

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st April 2024

64,365

100,790

291,475

Additions

35,470

22,991

78,598

At 31st March 2025

99,835

123,781

370,073

DEPRECIATION

At 1st April 2024

28,160

83,106

201,486

Charge for year

17,919

12,798

42,533

At 31st March 2025

46,079

95,904

244,019

NET BOOK VALUE

At 31st March 2025

53,756

27,877

126,054

At 31st March 2024

36,205

17,684

89,989

The net book value of tangible fixed assets held under hire purchase contracts at the year end was £27,154 (2024 - £36,205).

14.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1st April 2024

100,000

Disposals

(50,000

)

At 31st March 2025

50,000

NET BOOK VALUE

At 31st March 2025

50,000

At 31st March 2024

100,000

Other investments relates to cash deposit bonds where the notice period is more than 1 year.

15.

STOCKS

2025

2024

£

£

Goods held for resale

2,422,303

2,646,577

16.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

506,056

596,039

Other debtors

877

37,511

Loans to related parties

1,226,951

358,236

Prepayments

834,169

595,774

2,568,053

1,587,560

17.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 19)

13,514

8,073

Trade creditors

1,156,222

1,079,021

Corporation tax

205,564

248,976

Social security and other taxes

32,404

25,662

VAT

308,475

260,778

Other creditors

2,492

2,404

Directors' current accounts

393,146

321,003

Accrued expenses

148,837

121,561

2,260,654

2,067,478

18.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts (see note 19)

59,279

41,448

19.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

13,514

8,073

Between one and five years

59,279

41,448

72,793

49,521

Non-cancellable

operating leases

2025

2024

£

£

Within one year

4,246

11,351

Between one and five years

-

4,246

4,246

15,597