Waddington & Ledger Group Limited - Limited company accounts 25.1

REGISTERED NUMBER: 07652863 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 June 2025

for

Waddington & Ledger Group Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Consolidated Income Statement

8

Consolidated Other Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

Mr B Cameron

Mr J Cameron

Mrs C L Cameron Rodziewicz

Mr P Moreland

REGISTERED OFFICE:

Lowfields Business Park

Elland

Halifax

West Yorkshire

HX5 9DA

REGISTERED NUMBER:

07652863 (England and Wales)

AUDITORS:

Langricks (Holmfirth) Limited, Statutory Auditors

4 Greenfield Road

Holmfirth

West Yorkshire

HD9 2JT

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

BUSINESS MODEL

The business continues to focus on the needs of its customer and to ensure excellence across the entire operation. The business covers web, sheet and digital printing along with logistics management.

The design and branding division within the business continues to grow making the whole business offering one that is well placed for the future.

PRINCIPAL RISKS AND UNCERTAINTIES

We operate in competitive markets. Our products and services are characterised by continually evolving and changing technology driven by the demands of our customers. We continue to invest in modern and cost effective techniques and emerging technologies to enable us to advance our manufacturing capabilities and have increased our focus on digital technologies.

Turnover increased by 10.6% in the year and with improved margins operating profit increased significantly by £662,446 to £6,883,265. Since the year end the group has continued to trade profitably.

The property has also been revalued during the year resulting in part of the gain on revaluation of the property, £458,435, being credited to the consolidated other comprehensive income statement resulting in a profit before taxation for the year of £979,415.

KEY PERFORMANCE INDICATORS

Financial

2025

2024

Measure

Sales (£'000)

6,883

6,221

Operating (loss)/profit (£'000)

628

(73)

Net cash inflow from operating
activities (£'000)

769

267

Current ratio

1.1

Current assets/current liabilities

Quick ratio

0.97

0.91

Current assets less stocks/current liabilities

Sales per employee (£'000)

156

122

Turnover/average number of employees

ON BEHALF OF THE BOARD:

Mr J Cameron - Director

19 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company and group continued to be that of sales promotion printing.

DIVIDENDS

An interim dividend of £125,000 per share was paid on 23 April 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 30 June 2025 will be £ 125,000 .

DIRECTORS

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

Mr B Cameron

Mr J Cameron

Mrs C L Cameron Rodziewicz

Mr P Moreland

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, Langricks (Holmfirth) Limited, Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr J Cameron - Director

19 December 2025

Opinion

We have audited the financial statements of Waddington & Ledger Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 30 June 2025 and of the group's 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company 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 group's and the parent 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 group or the parent 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 risk of detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentation, or override of internal controls.

Our procedures included:

- Enquiry of management, those charged with governance around actual and potential litigation and claims.

- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations.

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Auditing the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

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.

Christopher Langrick (Senior Statutory Auditor)

for and on behalf of Langricks (Holmfirth) Limited, Statutory Auditors

4 Greenfield Road

Holmfirth

West Yorkshire

HD9 2JT

19 December 2025

TURNOVER

6,883,265

6,220,819

Cost of sales

5,310,036

5,152,166

GROSS PROFIT

1,573,229

1,068,653

Distribution costs

387,898

531,331

Administrative expenses

1,109,588

1,111,421

1,497,486

1,642,752

75,743

(574,099

)

Other operating income

4

552,522

501,410

OPERATING PROFIT/(LOSS)

6

628,265

(72,689

)

Interest receivable and similar income

5,820

7,231

Gain/loss on revaluation of investments

458,435

-

Interest payable and similar expenses

8

(113,105

)

(141,482

)

PROFIT/(LOSS) BEFORE TAXATION

979,415

(206,940

)

Tax on profit/(loss)

9

137,320

-

PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

842,095

(206,940

)

Profit/(loss) attributable to:

Owners of the parent

842,095

(206,940

)

PROFIT/(LOSS) FOR THE YEAR

842,095

(206,940

)

OTHER COMPREHENSIVE INCOME

Fair value movement of freehold property

393,608

-

Income tax relating to other
comprehensive income

(98,402

)

-

OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX

295,206

-

TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,137,301

(206,940

)

Total comprehensive income attributable to:

Owners of the parent

1,137,301

(206,940

)

FIXED ASSETS

Intangible assets

12

30,186

39,978

Tangible assets

13

5,991,008

5,777,233

Investments

14

-

Investment property

15

5,819,261

5,015,628

11,840,455

10,832,839

CURRENT ASSETS

Stocks

16

328,451

306,817

Debtors

17

1,296,209

1,138,970

Cash at bank

744,691

362,292

2,369,351

1,808,079

CREDITORS

Amounts falling due within one year

18

2,112,609

1,645,406

NET CURRENT ASSETS

256,742

162,673

TOTAL ASSETS LESS CURRENT
LIABILITIES

12,097,197

10,995,512

CREDITORS

Amounts falling due after more than one
year

19

(1,302,904

)

(1,449,242

)

PROVISIONS FOR LIABILITIES

22

(560,662

)

(324,940

)

NET ASSETS

10,233,631

9,221,330

CAPITAL AND RESERVES

Called up share capital

23

100,000

Revaluation reserve

24

1,527,121

1,231,915

Other reserves

24

8,074,600

Retained earnings

24

531,910

(185,185

)

SHAREHOLDERS' FUNDS

10,233,631

9,221,330

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

Mr J Cameron - Director

FIXED ASSETS

Intangible assets

12

-

Tangible assets

13

-

Investments

14

365,673

Investment property

15

10,650,000

9,452,759

11,015,673

9,818,432

CURRENT ASSETS

Debtors

17

158,236

230,158

Cash at bank

139,600

119,279

297,836

349,437

CREDITORS

Amounts falling due within one year

18

778,576

549,839

NET CURRENT LIABILITIES

(480,740

)

(200,402

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

10,534,933

9,618,030

CREDITORS

Amounts falling due after more than one
year

19

(1,302,904

)

(1,422,904

)

PROVISIONS FOR LIABILITIES

22

(482,151

)

(332,341

)

NET ASSETS

8,749,878

7,862,785

CAPITAL AND RESERVES

Called up share capital

23

100,000

Retained earnings

24

8,649,878

7,762,785

SHAREHOLDERS' FUNDS

8,749,878

7,862,785

Company's profit for the financial year

1,012,093

119,735

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

Mr J Cameron - Director

Called up

share

Retained

Revaluation

Other

Total

capital

earnings

reserve

reserves

equity

£

Balance at 1 July 2023

100,000

51,755

1,231,915

8,074,600

9,458,270

Changes in equity

Dividends

-

(30,000

)

-

(30,000

)

Total comprehensive income

-

(206,940

)

-

(206,940

)

Balance at 30 June 2024

100,000

(185,185

)

1,231,915

8,074,600

9,221,330

Changes in equity

Dividends

-

(125,000

)

-

(125,000

)

Total comprehensive income

-

842,095

295,206

-

1,137,301

Balance at 30 June 2025

100,000

531,910

1,527,121

8,074,600

10,233,631

Called up

share

Retained

Total

capital

earnings

equity

£

Balance at 1 July 2023

100,000

7,673,050

7,773,050

Changes in equity

Dividends

-

(30,000

)

(30,000

)

Total comprehensive income

-

119,735

Balance at 30 June 2024

100,000

7,762,785

7,862,785

Changes in equity

Dividends

-

(125,000

)

(125,000

)

Total comprehensive income

-

1,012,093

Balance at 30 June 2025

100,000

8,649,878

8,749,878

Cash flows from operating activities

Cash generated from operations

1

881,722

408,773

Interest paid

(110,875

)

(135,395

)

Interest element of hire purchase
payments paid

(2,230

)

(6,087

)

Net cash from operating activities

768,617

267,291

Cash flows from investing activities

Purchase of tangible fixed assets

(96,455

)

(10,367

)

Purchase of investment property

(15,198

)

(266,399

)

Sale of tangible fixed assets

3,500

(7,476

)

Interest received

5,820

7,231

Net cash from investing activities

(102,333

)

(277,011

)

Cash flows from financing activities

Repayment of bank loans

(120,000

)

(127,893

)

Payment of finance lease obligations

(38,885

)

(125,560

)

Equity dividends paid

(125,000

)

(30,000

)

Net cash from financing activities

(283,885

)

(283,453

)

Increase/(decrease) in cash and cash equivalents

382,399

(293,173

)

Cash and cash equivalents at
beginning of year

2

362,292

655,465

Cash and cash equivalents at end of
year

2

744,691

362,292

1.	RECONCILIATION OF PROFIT/(LOSS) FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

30.6.25

30.6.24

£

Profit/(loss) for the financial year

842,095

(206,940

)

Depreciation charges

286,080

376,417

Profit on disposal of fixed assets

(3,500

)

-

Gain on revaluation of fixed assets

(458,435

)

-

Finance costs

113,105

141,482

Finance income

(5,820

)

(7,231

)

Taxation

137,320

-

910,845

303,728

(Increase)/decrease in stocks

(21,634

)

10,652

(Increase)/decrease in trade and other debtors

(157,238

)

442,258

Increase/(decrease) in trade and other creditors

149,749

(347,865

)

Cash generated from operations

881,722

408,773

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 30 June 2025

30.6.25

1.7.24

£

Cash and cash equivalents

744,691

362,292

Year ended 30 June 2024

30.6.24

1.7.23

£

Cash and cash equivalents

362,292

655,465

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.7.24

Cash flow

At 30.6.25

£

Net cash

Cash at bank

362,292

382,399

744,691

362,292

382,399

744,691

Debt

Finance leases

(65,524

)

38,885

(26,639

)

Debts falling due within 1 year

(120,000

)

-

(120,000

)

Debts falling due after 1 year

(1,422,904

)

120,000

(1,302,904

)

(1,608,428

)

158,885

(1,449,543

)

Total

(1,246,136

)

541,284

(704,852

)

1.	STATUTORY INFORMATION

Waddington & Ledger Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Accounting convention

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 as modified by the revaluation of certain assets.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting

Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

· Section 7 'Statement of Cash Flows': Presentation of a statement of cash flow and related notes and

disclosures;

· Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues: Interest

income/expense and net gains/losses for financial instruments not measured at fair value; basis of

determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair

value changes recognised in profit or loss and in other comprehensive income;

· Section 26 'Share based Payment': Share-based payment expense charged to profit or loss,

reconciliation of opening and closing number and weighted average exercise price of share options,

how the fair value of options granted was measured, measurement and carrying amount of liabilities

for cash-settled share-based payments, explanation of modifications to arrangements;

· Section 33 'Related Party Disclosures': Compensation for key management personnel.

Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Waddington & Ledger Group Limited together with all entities controlled by the parent company (its subsidiaries) and the group's share of its interests in joint ventures and associates.

All financial statements are made up to 30 June 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group's share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

If the group's share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group's interest in the entity.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

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

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Intangible assets - goodwill

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.

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and Equipment

6.67% - 20% straight line

Fixtures and fittings

10% - 20% straight line

Motor vehicles

25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 'Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when 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.

Basic financial assets

Basic financial assets, which include debtors 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was

recognised, the impairment is reversed. The reversal is such that the current carrying amount does not

exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are

recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

3.	JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the group'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 in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4.	OTHER OPERATING INCOME

30.6.25

30.6.24

£

Sundry income

52,987

77,186

Rent & utilities recharges

receivable

621,304

424,224

Other operating expenses

(121,769

)

-

552,522

501,410

5.	EMPLOYEES AND DIRECTORS

30.6.25

30.6.24

£

Wages and salaries

1,925,278

2,005,067

Social security costs

191,290

181,171

Other pension costs

168,986

184,736

2,285,554

2,370,974

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

30.6.25

30.6.24

Manufacturing

27

34

Selling

11

Administration

6

44

51

EXCEPTIONAL ITEMS

Included in staff costs for the year ended 30th June 2024 are exceptional costs of £188,799 which relate to redundancy payments and payments in lieu of notice of employee's who were made redundant as part of a restructuring process.

30.6.25

30.6.24

£

Directors' remuneration

254,419

173,561

Information regarding the highest paid director for the year ended 30 June 2025 is as follows:

30.6.25

£

Emoluments etc

150,544

6.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging/(crediting):

30.6.25

30.6.24

£

Hire of plant and machinery

21,116

25,446

Depreciation - owned assets

276,288

351,399

Profit on disposal of fixed assets

(3,500

)

(154

)

Goodwill amortisation

9,792

Foreign exchange differences

44,726

17,782

7.	AUDITORS' REMUNERATION

Fees payable to the company's auditor and
associates:

30.6.25

30.6.24

£

For audit services

Audit of the financial statements of the group and company

3,700

Audit of the financial statements of the company's subsidiaries

15,300

14,400

19,000

18,100

8.

INTEREST PAYABLE AND SIMILAR EXPENSES

30.6.25

30.6.24

£

Bank interest

1,966

9,481

Bank loan interest

108,909

125,914

Hire purchase

2,230

6,087

113,105

141,482

9.

TAXATION

Analysis of the tax charge

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

30.6.25

30.6.24

£

Deferred tax

137,320

-

Tax on profit/(loss)

137,320

-

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

30.6.25

30.6.24

£

Profit/(loss) before tax

979,415

(206,940

)

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

244,854

(51,735

)

Effects of:

Expenses not deductible for tax purposes

(975

)

(4,346

)

Income not taxable for tax purposes

(114,609

)

-

Depreciation in excess of capital allowances

23,175

53,066

Utilisation of tax losses

(152,445

)

3,015

corporation tax rate

qualifying for tax allowances

years

Deferred tax provision

137,320

-

Total tax charge

137,320

-

Tax effects relating to effects of other comprehensive income

30.6.25

Gross

Tax

Net

£

Fair value movement of freehold property

393,608

(98,402

)

295,206

10.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

11.

DIVIDENDS

30.6.25

30.6.24

£

Ordinary shares shares of £1 each

Interim

125,000

30,000

12.	INTANGIBLE FIXED ASSETS

Group

Goodwill

£

COST

At 1 July 2024

and 30 June 2025

1,206,599

AMORTISATION

At 1 July 2024

1,166,621

Amortisation for year

9,792

At 30 June 2025

1,176,413

NET BOOK VALUE

At 30 June 2025

30,186

At 30 June 2024

39,978

13.	TANGIBLE FIXED ASSETS

Group

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

COST OR VALUATION

At 1 July 2024

4,437,131

7,148,688

2,765,160

Additions

-

9,571

85,927

Disposals

-

(8,400

)

-

Revaluations

393,608

-

At 30 June 2025

4,830,739

7,149,859

2,851,087

DEPRECIATION

At 1 July 2024

-

6,155,768

2,422,955

Charge for year

-

173,694

101,422

Eliminated on disposal

-

(8,400

)

-

At 30 June 2025

-

6,321,062

2,524,377

NET BOOK VALUE

At 30 June 2025

4,830,739

828,797

326,710

At 30 June 2024

4,437,131

992,920

342,205

Motor

Computer

vehicles

equipment

Totals

£

COST OR VALUATION

At 1 July 2024

55,388

1,968

14,408,335

Additions

-

957

96,455

Disposals

(13,949

)

-

(22,349

)

Revaluations

-

393,608

At 30 June 2025

41,439

2,925

14,876,049

DEPRECIATION

At 1 July 2024

50,551

1,828

8,631,102

Charge for year

-

1,172

276,288

Eliminated on disposal

(13,949

)

-

(22,349

)

At 30 June 2025

36,602

3,000

8,885,041

NET BOOK VALUE

At 30 June 2025

4,837

(75

)

5,991,008

At 30 June 2024

4,837

140

5,777,233

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group

Company

30.6.25

30.6.24

30.6.25

30.6.24

£

Plant and equipment

24,172

76,788

-

Cost or valuation at 30 June 2025 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

Valuation in 2019

1,093,946

-

Valuation in 2022

663,265

-

Valuation in 2025

393,608

-

Cost

2,679,920

7,149,859

2,851,087

4,830,739

7,149,859

2,851,087

Motor

Computer

vehicles

equipment

Totals

£

Valuation in 2019

-

1,093,946

Valuation in 2022

-

663,265

Valuation in 2025

-

393,608

Cost

41,439

2,925

12,725,230

41,439

2,925

14,876,049

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

30.6.25

30.6.24

£

Cost

2,679,920

2,612,900

Aggregate depreciation

674,339

619,280

Freehold property comprises the part of the property occupied by the group for its trade at Lowfields Business Park, Elland, West Yorkshire, HX59DA.

The Freehold property is accounted for under the revaluation model, and the directors have reviewed rental market data and consider the market value of the freehold property at 30 June 2025 to be £4,830,739.

The whole property had been valued by Lambert Smith Hampton Chartered Surveyors at £10,650,000, and the value attributable to the Investment property by the directors was £4,830,739 at 17 February 2025. The valuation was made on an open market value basis with the existing leases using the income capitalisation method.

14.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

£

COST

At 1 July 2024

and 30 June 2025

365,673

NET BOOK VALUE

At 30 June 2025

365,673

At 30 June 2024

365,673

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Waddington and Ledger Limited

Registered office: Lowfields Business Park, Elland, Halifax, West Yorkshire, HX5 9DA

Nature of business: Design and printing services

%

Class of shares:

holding

Ordinary

100.00

Shark! Design & Marketing Limited

Registered office: Lowfields Business Park, Elland, Halifax, West Yorkshire, HX5 9DA

Nature of business: Design and printing services

%

Class of shares:

holding

Ordinary

100.00

Marketing Print & Direct Mail Limited

Registered office: Lowfields Business Park, Elland, Halifax, West Yorkshire, HX5 9DA

Nature of business: Design and printing services

%

Class of shares:

holding

Ordinary

100.00

15.	INVESTMENT PROPERTY

Group

Total

£

FAIR VALUE

At 1 July 2024

5,015,628

Additions

345,198

Revaluations

458,435

At 30 June 2025

5,819,261

NET BOOK VALUE

At 30 June 2025

5,819,261

At 30 June 2024

5,015,628

Investment property comprises the freehold property at Lowfields Business Park, Elland, West Yorkshire, HX59DA. The directors have reviewed rental market data and consider the market value of the property at 30 June 2025 to be £5,819,261.

The whole property had been valued by Lambert Smith Hampton Chartered Surveyors at £10,650,000, and the value attributable to the investment property by the directors was £5,819,261 at 19 February 2025. The valuation was made on an open market value basis with the existing leases using the income capitalisation method.

Company

Total

£

FAIR VALUE

At 1 July 2024

9,452,759

Additions

345,198

Revaluations

852,043

At 30 June 2025

10,650,000

NET BOOK VALUE

At 30 June 2025

10,650,000

At 30 June 2024

9,452,759

Investment property comprises the freehold property at Lowfields Business Park, Elland, West Yorkshire, HX5 9DA.

The property was revalued by Lambert Smith Hampton Chartered Surveyors at £10,650,000, on 24 March 2025. The valuation was made on an open market value basis with the existing leases using the income capitalisation method.

16.

STOCKS

Group

30.6.25

30.6.24

£

Raw materials

314,187

274,436

Work-in-progress

14,264

32,381

328,451

306,817

17.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

30.6.25

30.6.24

30.6.25

30.6.24

£

Trade debtors

943,778

779,850

15,817

9,433

Amounts owed by group undertakings

-

100,000

216,658

Other debtors

142,996

159,915

-

VAT

-

29,148

-

Prepayments and accrued income

209,435

199,205

13,271

4,067

1,296,209

1,138,970

158,236

230,158

18.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

30.6.25

30.6.24

30.6.25

30.6.24

£

Bank loans and overdrafts (see note 20)

120,000

Hire purchase contracts (see note 21)

26,639

39,186

-

Trade creditors

928,139

909,563

1,336

1,198

Amounts owed to group undertakings

-

134,721

276,096

Social security and other taxes

86,622

178,366

2,937

27,167

Other creditors

472,338

49,044

330,000

-

Accruals and deferred income

478,871

349,247

189,582

125,378

2,112,609

1,645,406

778,576

549,839

19.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group

Company

30.6.25

30.6.24

30.6.25

30.6.24

£

Bank loans (see note 20)

1,302,904

1,422,904

1,302,904

1,422,904

Hire purchase contracts (see note 21)

-

26,338

-

1,302,904

1,449,242

1,302,904

1,422,904

20.

LOANS

An analysis of the maturity of loans is given below:

Group

Company

30.6.25

30.6.24

30.6.25

30.6.24

£

Amounts falling due within one year or

on demand:

Bank loans

120,000

Amounts falling due between two and

five years:

Bank loans - 2-5 years

1,302,904

1,422,904

1,302,904

1,422,904

The long-term loans are secured by a fixed and floating charge in favour of Handelsbanken PLC over

the property of the company, together with a composite guarantee over the assets of the group.

The loans have an interest rate of 2.6% above the Bank of England base rate.

The loans are being repaid quarterly over the period to February 2037, and the next renewal date is 26 February 2027

21.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group

Hire purchase

contracts

30.6.25

30.6.24

£

Net obligations repayable:

Within one year

26,639

39,186

Between one and five years

-

26,338

26,639

65,524

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

Lessor

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2025

2024

£

Within one year

474,362

398,542

Between two and five years

1,785,624

1,594,168

In over 5 years

1,703,109

2,101,650

3,963,095

4,094,360

22.	PROVISIONS FOR LIABILITIES

The following are the major deferred tax liabilities and assets recognised by the company and movements there on:

Group

Liabilities

Assets

30.6.25

30.6.24

30.6.25

30.6.24

£

Balances:

Accelerated capital allowances

212,800

254,049

-

Tax losses

(125,578

)

(189,657

)

-

Revaluation

473,558

260,548

-

560,780

324,940

-

Company

Liabilities

Assets

30.6.25

30.6.24

£

Balances:

Revaluation

473,558

260,548

-

Accelerated capital allowances

8,593

71,793

-

Tax losses

-

482,151

332,341

-

23.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.25

30.6.24

value:

£

100,000

Ordinary shares

£1

100,000

24.

RESERVES

Group

Retained

Revaluation

Other

earnings

reserve

reserves

Totals

£

At 1 July 2024

(185,185

)

1,231,915

8,074,600

9,121,330

Profit for the year

842,095

Dividends

(125,000

)

(125,000

)

Revaluation movement

-

295,206

-

295,206

At 30 June 2025

531,910

1,527,121

8,074,600

10,133,631

Company

Retained

earnings

£

At 1 July 2024

7,762,785

Profit for the year

1,012,093

Dividends

(125,000

)

At 30 June 2025

8,649,878

Retained earnings

- Accumulated profits and losses achieved.

Revaluation reserve

- Reserves arising on the revaluation of fixed assets.

Other reserves

- Reserves arising on mergers.

25.	CAPITAL COMMITMENTS

Group

Company

30.6.25

30.6.24

30.6.25

30.6.24

£

Contracted for but not provided in the

229,485

41,168

171,462

-

financial statements

229,485

41,168

171,462

-

26.	RELATED PARTY DISCLOSURES

During the year, the company purchased land valued at £300,000 plus VAT from a related company which has common directors and over which the common directors exercise significant control.

At 30 June 2025 £330,000 was owed to this related party and is included within creditors.

Dividends amounting to £125,000 (2024: £30,000) were paid in the year in respect of shares held by the company directors.

27.	ULTIMATE CONTROLLING PARTY

The company is controlled by B Cameron, who is the majority shareholder of the group. B Cameron

is considered to be the ultimate controlling party.