Black Country Metal Works Limited Company accounts

COMPANY REGISTRATION NUMBER: 05709874

Black Country Metal Works Limited

Financial Statements

31 March 2025

Black Country Metal Works Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Statement of income and retained earnings	10

Statement of financial position	11

Statement of cash flows	13

Notes to the financial statements	14

Black Country Metal Works Limited

Officers and Professional Advisers

The board of directors	CE Knowles
	TA Knowles

Company secretary	TA Knowles

Registered office	Whitehall
	Aston
	Oswestry
	Shropshire
	SY11 4JH

Auditor	Muras Baker Jones Limited
	Chartered Accountants & statutory auditor
	Regent House
	Bath Avenue
	Wolverhampton
	West Midlands
	WV1 4EG

Black Country Metal Works Limited

Strategic Report

Year ended 31 March 2025

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

Fair review of the business

The directors consider the overall financial performance to be resilient, underpinned by a loyal customer base and the Company's established reputation. The directors attribute this resilience to a diversified business model which successfully blends a destination-based visitor attraction and in person and online retail. The Sculpture Park remains a defining feature of the business, serving as both a public attraction and a platform for community and educational engagement. Beyond local tourism, the Company continues to distinguish itself through significant national social campaigns, most notably the tour of the National Monument Against Violence and Aggression (The Knife Angel). These initiatives have cemented the Company's reputation as a socially responsible entity, while fulfilling a moral objective to educate youth on the dangers of violent crime. Throughout the year, the Company welcomed a diverse range of visitors, families, and ever growing school groups. While these activities require ongoing investment, the directors remain confident that they contribute positively to the Company's long-term relationship with both the local and national community.

Principal risks and uncertainties

The Company's operations are exposed to the current negative economic climate and shifts in consumer spending. Furthermore, the business faces significant exposure to sharply rising workforce costs, ever increasing raw material costs, and the broader impact of the ever increasing cost of living in the UK. The Company is currently finding the economic environment challenging, with a significant erosion of margins due to a continual increase in costs and extremely aggressively priced competitors.

Development and performance

The position of the company at the year end is disclosed in the Statement of Financial Position. A principal challenge for the Company remains the attraction and retention of skilled labour due to its rural location. This is most evident within specialist digital fields, as well as in general metalworking and industrial trades. Looking ahead, the Company plans to continue investing in the Sculpture Park to strengthen its appeal to visitors from both Shropshire and the wider nation. The Company remains deeply committed to sustainability, continuing to prioritize the use of recycled and scrap metals in its displays. This not only creates unique artistic displays but also drives the Company's educational initiatives regarding waste and the environment. As part of planned infrastructure improvements, the Company intends to further its sustainability goals through investment in renewable energy sources, including solar power.

Key performance indicators

Turnover increased by 34.9% from £9,308,045 in 2024 to £12,557,783 in 2025. Gross profit remained consistent at 53% of turnover over the two years. Operating profit increase to £1,394,618 compared to operating profit in the prior year of £1,306,384. The directors take immense pride in its long-standing team, whose pride and dedication is really the defining difference between ourselves and many other companies of a similar size and nature.

This report was approved by the board of directors on 22 December 2025 and signed on behalf of the board by:

CE Knowles

Director

Black Country Metal Works Limited

Directors' Report

Year ended 31 March 2025

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

Principal activities

The principal activity of the company during the year was the retail and manufacture of home and garden products.

Directors

The directors who served the company during the year were as follows:

CE Knowles
TA Knowles

Dividends

The directors do not recommend the payment of a dividend.

Disclosure of information in the strategic report

The strategic report, presented on page 2, includes a review of the business, the principal risks and uncertainties facing the company, and likely future developments.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report 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 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 judgments 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 22 December 2025 and signed on behalf of the board by:

CE Knowles

Director

Black Country Metal Works Limited

Independent Auditor's Report to the Members of Black Country Metal Works Limited

Year ended 31 March 2025

Qualified opinion

We have audited the financial statements of Black Country Metal Works Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows and the related notes, 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, except for the effects of the matter described in the basis for qualified opinion section of our report, 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; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion

The prior year accounts were not audited and hence we were not able to observe the counting of the physical inventories at 31 March 2024. In respect of the opening inventories we were unable to satisfy ourselves concerning those inventory quantities by alternative means. Since opening inventories affect the determination of the results of operations, we were unable to determine whether adjustments to the results of operations and opening retained earnings might be necessary for the year ended 31 March 2025. Our opinion on the current period's financial statements is modified because of the possible effect of this matter on the comparability of the current period's figures and the corresponding figures.

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 auditor's 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 qualified 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report 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 directors' report. We have nothing to report in respect of the following matters in relation to which 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 directors' responsibilities statement, 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 is 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.

Auditor's 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 an auditor’s report 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: In planning and designing our audit tests we identify and assess the risks of material misstatement within the financial statements, whether due to fraud or error. Our assessment of these risks includes consideration of the nature of the industry and sector, the control environment and the business performance along with the results of our enquiries of management about their own identification and assessment of risks and irregularities. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks 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. The key laws and regulations we considered in this context included the UK Companies Act, UK tax legislation and other laws and regulations identified as risk areas identified from our discussions with management. We communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. After consideration of the above risks we then carried out audit procedures including the following: - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - reading minutes of management meetings; - reviewing correspondence with H M Revenue & Customs; - enquiring of management and reviewing any correspondence with legal advisors concerning actual and potential litigation and claims; - reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; - 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. There are inherent limitations in our audit procedures described above. The more removed that the laws and regulations are from financial transactions the less likely it is that we would be aware on non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 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 an auditor's report 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.

Oliver Ross BSc (Hons) FCA

(Senior Statutory Auditor)

For and on behalf of

Muras Baker Jones Limited

Chartered Accountants & statutory auditor

Regent House

Bath Avenue

Wolverhampton

West Midlands

WV1 4EG

22 December 2025

Black Country Metal Works Limited

Statement of Income and Retained Earnings

Year ended 31 March 2025

		2025	2024
Note		£	£
Turnover	4	12,557,783	9,308,045

Cost of sales	5,958,496	4,342,052
	-------------	------------
Gross profit	6,599,287	4,965,993

Distribution costs		1,360,595	1,042,522
Administrative expenses		3,844,074	2,617,087
		------------	------------
Operating profit	5	1,394,618	1,306,384

Other interest receivable and similar income	9	31,823	8,939
Interest payable and similar expenses	10	–	10
		------------	------------
Profit before taxation		1,426,441	1,315,313

Tax on profit	11	353,982	345,720
		------------	------------
Profit for the financial year and total comprehensive income		1,072,459	969,593
		------------	------------

Retained earnings at the start of the year	4,424,286	3,454,693
	------------	------------
Retained earnings at the end of the year	5,496,745	4,424,286
	------------	------------

All the activities of the company are from continuing operations.

Black Country Metal Works Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Intangible assets	12	27,500	55,000
Tangible assets	13	250,042	163,218
		---------	---------
		277,542	218,218

Current assets

Stocks	14	2,505,260	1,992,992
Debtors	15	424,461	406,516
Cash at bank and in hand		4,628,651	3,337,127
		------------	------------
		7,558,372	5,736,635

Creditors: amounts falling due within one year	17	2,293,567	1,499,747
		------------	------------
Net current assets		5,264,805	4,236,888
		------------	------------
Total assets less current liabilities		5,542,347	4,455,106

Provisions

Taxation including deferred tax	18	45,600	30,818
		------------	------------
Net assets		5,496,747	4,424,288
		------------	------------

Black Country Metal Works Limited

Statement of Financial Position (continued)

31 March 2025

	2025	2024
Note	£	£

Capital and reserves

Called up share capital	21	2	2
Profit and loss account		5,496,745	4,424,286
		------------	------------
Shareholders funds		5,496,747	4,424,288
		------------	------------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

CE Knowles

Director

Company registration number: 05709874

Black Country Metal Works Limited

Statement of Cash Flows

Year ended 31 March 2025

	2025	2024
Note	£	£

Cash flows from operating activities

Profit for the financial year	1,072,459	969,593

Adjustments for:
Depreciation of tangible assets	74,803	64,757
Amortisation of intangible assets	27,500	27,500
Other interest receivable and similar income	( 31,823)	( 8,939)
Interest payable and similar expenses	–	10
Tax on profit	353,982	345,720
Accrued expenses	10,000	–

Changes in:
Stocks	( 512,268)	( 301,899)
Trade and other debtors	( 17,945)	( 121,613)
Trade and other creditors	778,143	203,301
	------------	------------
Cash generated from operations	1,754,851	1,178,430

Interest paid	–	( 10)
Interest received	31,823	8,939
Tax paid	( 340,352)	( 117,448)
	------------	------------
Net cash from operating activities	1,446,322	1,069,911
	------------	------------

Cash flows from investing activities

Purchase of tangible assets	( 161,627)	( 26,109)
	------------	------------
Net cash used in investing activities	( 161,627)	( 26,109)
	------------	------------

Net increase in cash and cash equivalents		1,284,695	1,043,802
Cash and cash equivalents at beginning of year		3,331,944	2,288,142
		------------	------------
Cash and cash equivalents at end of year	16	4,616,639	3,331,944
		------------	------------

Black Country Metal Works Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Whitehall, Aston, Oswestry, Shropshire, SY11 4JH.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised where the revision affects only that period, or in the period of the revision and the future periods when the revision affects both current and future periods.

(c) Revenue recognition

Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

(d) Taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

(e) Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

(f) Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

(g) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

(h) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	15% straight line
Plant and machinery	-	20% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	20% straight line

(i) Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

(j) Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

(k) Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

(l) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	12,557,783	9,308,045
	-------------	------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Amortisation of intangible assets	27,500	27,500
Depreciation of tangible assets	74,803	64,757
Foreign exchange differences	40,923	18,742
	--------	--------

6. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	9,500	–
	-------	----

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	50	48
Administrative staff	26	26
Management staff	7	7
	----	----
	83	81
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	2,443,233	1,565,072
Social security costs	244,567	136,480
Other pension costs	36,202	25,619
	------------	------------
	2,724,002	1,727,171
	------------	------------

8. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	100,000	95,167
	---------	--------

9. Other interest receivable and similar income

	2025	2024
	£	£
Interest on loans and receivables	2,077	2,427
Interest on bank deposits	29,622	6,512
Other interest	124	–
	--------	-------
	31,823	8,939
	--------	-------

10. Interest payable and similar expenses

	2025	2024
	£	£
Other interest payable	–	10
	----	----

11. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	339,200	340,352

Deferred tax:

Origination and reversal of timing differences	14,782	5,368
	---------	---------
Tax on profit	353,982	345,720
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	1,426,441	1,315,313
	------------	------------
Profit on ordinary activities by rate of tax	356,610	328,828
Effect of expenses not deductible for tax purposes	5,459	7,260
Rounding on tax charge	1,545	–
Other timing differences	( 9,632)	9,632
	------------	------------
Tax on profit	353,982	345,720
	------------	------------

12. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	550,000
	---------
Amortisation
At 1 April 2024	495,000
Charge for the year	27,500
	---------
At 31 March 2025	522,500
	---------
Carrying amount
At 31 March 2025	27,500
	---------
At 31 March 2024	55,000
	---------

13. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 April 2024	844,025	82,200	224,322	217,611	1,368,158
Additions	–	–	95,944	65,683	161,627
	---------	--------	---------	---------	------------
At 31 March 2025	844,025	82,200	320,266	283,294	1,529,785
	---------	--------	---------	---------	------------
Depreciation
At 1 April 2024	834,256	35,093	180,574	155,017	1,204,940
Charge for the year	4,888	16,440	26,352	27,123	74,803
	---------	--------	---------	---------	------------
At 31 March 2025	839,144	51,533	206,926	182,140	1,279,743
	---------	--------	---------	---------	------------
Carrying amount
At 31 March 2025	4,881	30,667	113,340	101,154	250,042
	---------	--------	---------	---------	------------
At 31 March 2024	9,769	47,107	43,748	62,594	163,218
	---------	--------	---------	---------	------------

14. Stocks

	2025	2024
	£	£
Finished goods and goods for resale	2,505,260	1,992,992
	------------	------------

15. Debtors

	2025	2024
	£	£
Trade debtors	213,540	188,345
Prepayments and accrued income	16,641	13,461
Directors loan account	39,340	44,717
Other debtors	154,940	159,993
	---------	---------
	424,461	406,516
	---------	---------

16. Cash and cash equivalents

Cash and cash equivalents comprise the following:

	2025	2024
	£	£
Cash at bank and in hand	4,628,651	3,337,127
Bank overdrafts	( 12,012)	( 5,183)
	------------	------------
	4,616,639	3,331,944
	------------	------------

17. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	12,012	5,183
Trade creditors	1,128,525	751,269
Accruals and deferred income	14,250	4,250
Corporation tax	339,200	340,352
Social security and other taxes	725,133	383,759
Other creditors	74,447	14,934
	------------	------------
	2,293,567	1,499,747
	------------	------------

18. Provisions

	Deferred tax (note 19)
	£
At 1 April 2024	30,818
Additions	14,782
	--------
At 31 March 2025	45,600
	--------

19. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 18)	45,600	30,818
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	45,600	30,818
	--------	--------

20. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 36,202 (2024: £ 25,619 ).

21. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----

22. Analysis of changes in net debt

	At 1 Apr 2024	Cash flows	At 31 Mar 2025
	£	£	£
Cash at bank and in hand	3,337,127	1,291,524	4,628,651
Bank overdrafts	(5,183)	(6,829)	(12,012)
	------------	------------	------------
	3,331,944	1,284,695	4,616,639
	------------	------------	------------

23. Directors' advances, credits and guarantees

At 31 March 2025 £39,340 was owed to the company by C Knowles (2024 - £44,716).

24. Controlling party

The ultimate controlling parties are the directors as listed in the directors report.