REGISTERED NUMBER: 09388677 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 March 2025

for

Polymeric Labels Holdings Limited

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Income Statement

10

Consolidated Other Comprehensive Income

11

Consolidated Balance Sheet

12

Company Balance Sheet

13

Consolidated Statement of Changes in Equity

14

Company Statement of Changes in Equity

15

Consolidated Cash Flow Statement

16

Notes to the Consolidated Cash Flow Statement

17

Notes to the Consolidated Financial Statements

18

DIRECTORS:

I E Buckley

Mrs J Buckley

Mrs V J Kershaw

REGISTERED OFFICE:

12 Greenacres Road

Oldham

Lancashire

OL4 1HA

REGISTERED NUMBER:

09388677 (England and Wales)

AUDITORS:

Alwyns LLP, Statutory Auditor

Crown House

151 High Road

Loughton

IG10 4LG

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

REVIEW OF BUSINESS

The core business and principal activity of Polymeric Labels Holdings Limited during the year continued to be that of a holding company. The principal activity of the group headed by the company continued to be that of polymer label printing.

The company's results for the period and financial position of the company are as shown in the annexed financial statements.

The directors are satisfied with the performances of the company's trading subsidiaries, Polymeric Labels Limited and Polymeric Labels Inc in a market that remains challenging. Polymeric Labels Inc continues to develop and expand following its relatively recent incorporation. Group turnover increased by 1.5% from the previous year and gross margin increased from 60.2% to 62.7% which is the group's key performance indicator (KPI). The group balance sheet net assets increased from £10.850m to £11.217m.

PRINCIPAL RISKS AND UNCERTAINTIES

The wholly owned subsidiaries operate in the polymer label printing sector which remains competitive and the directors believe that the market will remain this way in the foreseeable future. The company itself does not actively trade with unconnected third parties but the activities of the trading subsidiaries expose them to a number of financial risks including credit risk, cash flow risk and liquidity risk and price risk. The use of financial instruments is monitored by the directors. The company's principal financial instruments comprise other debtors and loans to company's which are group balances. The company does not use derivative financial instruments for speculative purposes. The directors monitor the performance of the subsidiaries on a regular basis to manage its risks and uncertainties. Risks and uncertainties of those are managed as follows:

Credit risk

Credit risk is primarily attributable to trade and other receivables. Credit risk in relation to trade receivables is managed by regularly monitoring credit limits and balances outstanding. There is no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit ratings assigned by international credit-rating agencies.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, a large amount of cash within bank accounts is maintained. Liquidity risk is managed by monitoring working capital and ensuring that there are sufficient funds to meet payments. The balance outstanding is managed as part of the overall working capital management. The majority of fixed assets are acquired through direct payments. The board is cognisant of the company's working capital requirements and has concluded the facilities currently in place are appropriate to the size and complexity of operations.

Price risk

Polymer printing material prices is a key price risk exposure which is managed by giving due consideration to the market place ensuring they are in contact with various suppliers who can offer competitive prices. Exchange rate fluctuation is a key component of price risk and this is managed through selling forward flows of foreign currency.

FUTURE PROSPECTS

The group is focussed on maintaining its position in the market and at the date of signing this report the directors are grateful that the COVID pandemic and Brexit has had a minimal impact. Demand for goods remains strong and supply lines have been relatively unaffected. Considerable focus has been made and continues to be made on maintaining a safe environment for all our employees in which to work and this has enabled us to continue trading throughout.

The key Brexit challenges faced by the company are the changes in exchange rates and the uncertainty of a trade deal leading to caution from some customers and suppliers but on the whole we have so far not been adversely affected.

ON BEHALF OF THE BOARD:

I E Buckley - Director

19 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of label printing.

DIVIDENDS

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

DIRECTORS

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

I E Buckley

Mrs J Buckley

Mrs V J Kershaw

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES

The directors refer you to the Strategic Report for information regarding financial risk management, objectives and policies.

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, Alwyns LLP, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

I E Buckley - Director

19 December 2025

Opinion

We have audited the financial statements of Polymeric Labels Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 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's affairs as at 31 March 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 four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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.

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.

Discussions were held with, and enquiries made of, management and those charged with governance with a view to identifying laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

- Those laws and regulations considered to have a direct effect on the financial statements include UK reporting standards, company law, UK employment and health and safety legislation and tax and pension legislation.

- It is considered that there are no other significant laws and regulations for which non-compliance may be fundamental to the opening aspects of the business.

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

- Enquiry of management and those charged with governance as to whether the entity complies with such laws and regulations;

- Enquiry of management and those charged with governance concerning any actual or potential litigation claims;

- Inspection of relevant legal correspondence;

- Testing of journal and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business;

- Performing analytical procedures to identify unexpected movements in account balances;

- Reviewing assumptions and judgements made by management within any significant accounting estimates, particularly in relation to deferred and accrued income.

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Stanley (Senior Statutory Auditor)

for and on behalf of Alwyns LLP, Statutory Auditor

Crown House

151 High Road

Loughton

IG10 4LG

19 December 2025

TURNOVER

3

7,010,062

6,905,180

Cost of sales

2,615,346

2,750,845

GROSS PROFIT

4,394,716

4,154,335

Administrative expenses

4,057,961

3,712,522

336,755

441,813

Other operating income

84,455

151,780

OPERATING PROFIT

5

421,210

593,593

Interest receivable and similar income

29,769

47,678

450,979

641,271

Interest payable and similar expenses

6

590

10,380

PROFIT BEFORE TAXATION

450,389

630,891

Tax on profit

7

83,200

126,197

PROFIT FOR THE FINANCIAL YEAR

367,189

504,694

Profit attributable to:

Owners of the parent

367,189

504,694

PROFIT FOR THE YEAR

367,189

504,694

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

367,189

504,694

Total comprehensive income attributable to:

Owners of the parent

367,189

504,694

FIXED ASSETS

Tangible assets

9

985,384

1,002,978

Investments

10

3,723,380

2,598,487

4,708,764

3,601,465

CURRENT ASSETS

Stocks

11

679,627

687,609

Debtors

12

4,921,797

4,973,120

Cash at bank and in hand

1,801,827

2,390,429

7,403,251

8,051,158

CREDITORS

Amounts falling due within one year

13

758,221

670,331

NET CURRENT ASSETS

6,645,030

7,380,827

TOTAL ASSETS LESS CURRENT LIABILITIES

11,353,794

10,982,292

PROVISIONS FOR LIABILITIES

14

137,017

132,704

NET ASSETS

11,216,777

10,849,588

CAPITAL AND RESERVES

Called up share capital

15

400,200

400,200

Retained earnings

10,816,577

10,449,388

SHAREHOLDERS' FUNDS

11,216,777

10,849,588

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:

I E Buckley - Director

FIXED ASSETS

Tangible assets

9

123,283

164,378

Investments

10

4,123,581

2,998,688

4,246,864

3,163,066

CURRENT ASSETS

Debtors

12

5,792,624

5,171,400

Cash at bank

286,497

1,620,363

6,079,121

6,791,763

CREDITORS

Amounts falling due within one year

13

43,913

24,660

NET CURRENT ASSETS

6,035,208

6,767,103

TOTAL ASSETS LESS CURRENT LIABILITIES

10,282,072

9,930,169

PROVISIONS FOR LIABILITIES

14

-

1,960

NET ASSETS

10,282,072

9,928,209

CAPITAL AND RESERVES

Called up share capital

15

400,200

400,200

Retained earnings

9,881,872

9,528,009

SHAREHOLDERS' FUNDS

10,282,072

9,928,209

Company's profit for the financial year

353,863

1,008,104

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:

I E Buckley - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

400,200

9,944,694

10,344,894

Changes in equity

Total comprehensive income

-

504,694

504,694

Balance at 31 March 2024

400,200

10,449,388

10,849,588

Changes in equity

Total comprehensive income

-

367,189

367,189

Balance at 31 March 2025

400,200

10,816,577

11,216,777

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

400,200

8,519,905

8,920,105

Changes in equity

Total comprehensive income

-

1,008,104

1,008,104

Balance at 31 March 2024

400,200

9,528,009

9,928,209

Changes in equity

Total comprehensive income

-

353,863

353,863

Balance at 31 March 2025

400,200

9,881,872

10,282,072

Cash flows from operating activities

Cash generated from operations

1

608,961

854,391

Interest paid

(590

)

(10,380

)

Tax received/(paid)

23,352

(342,702

)

Net cash from operating activities

631,723

501,309

Cash flows from investing activities

Purchase of tangible fixed assets

(125,656

)

(214,114

)

Cash contributed to investments

(1,124,438

)

(135,072

)

Interest received

29,769

47,678

Net cash from investing activities

(1,220,325

)

(301,508

)

(Decrease)/increase in cash and cash equivalents

(588,602

)

199,801

Cash and cash equivalents at beginning of year

2

2,390,429

2,190,628

Cash and cash equivalents at end of year

2

1,801,827

2,390,429

1.	RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

31.3.25

31.3.24

£

£

Profit for the financial year

367,189

504,694

Depreciation charges

143,250

134,915

Profit share from partnerships

(455

)

(15,780

)

Finance costs

590

10,380

Finance income

(29,769

)

(47,678

)

Taxation

83,200

126,197

564,005

712,728

Decrease in stocks

7,982

166,389

Decrease/(increase) in trade and other debtors

51,323

(131,155

)

(Decrease)/increase in trade and other creditors

(14,349

)

106,429

Cash generated from operations

608,961

854,391

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 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

1,801,827

2,390,429

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

2,390,429

2,190,628

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

2,390,429

(588,602

)

1,801,827

2,390,429

(588,602

)

1,801,827

Total

2,390,429

(588,602

)

1,801,827

1.	STATUTORY INFORMATION

Polymeric Labels Holdings 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

Basis of preparing the financial statements

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

The functional currency of each group company is the currency of the primary economic environment in which they operate. For the purposes of the consolidated financial statements the results and financial position of each group company are expressed in pounds sterling which is the functional currency of the company and group. The presentational currency is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern

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

Basis of consolidation

The consolidated financial statements incorporate those of Polymeric Labels Holdings Limited and all its subsidiaries (i.e. entities that the Group controls through its power to govern the financial and operating policies so as to obtain economic benefits).

Subsidiaries acquired are consolidated using the purchase method. Their results are incorporated from the date that control passes.

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.

Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used in to line with those used by other members of the Group.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed. Where amounts are received in advance the recognition is deferred until such a time that the above conditions have been met.

Other income

Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method.

Profit share income from investments in Limited Liability Partnerships (LLP's) is recognised on an accruals basis in line with the groups share of profits arising during the year.

Management fee income represents the value of services provided and is recognised on an accruals basis.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance and 15% on reducing balance

Fixtures and fittings

-

15% on reducing balance and 10% on reducing balance

Computer equipment

-

25% on cost

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Impairment of assets

Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Investments in subsidiaries

Investments in subsidiaries are disclosed at cost less impairment.

Other investments

Investments in LLP's are recognised at cost adjusted for accrued profit shares and distributions received.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost, using the effective interest rate method.

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

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

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

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

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

Provision for liabilities

Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

31.3.25

31.3.24

£

£

Polymer label printing

7,010,062

6,905,180

7,010,062

6,905,180

An analysis of turnover by geographical market is given below:

31.3.25

31.3.24

£

£

United Kingdom

455,100

920,559

Rest of world

6,554,962

5,984,621

7,010,062

6,905,180

4.	EMPLOYEES AND DIRECTORS

Group

31.03.25

31.03.24

£

£

Wages and salaries

2,480,149

2,174,336

Social security costs

192,726

164,344

Other pension costs

260,038

266,902

2,932,913

2,605,582

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

31.03.25

31.03.24

Directors

3

3

Production

46

44

Admin

23

24

72

71

Key management and personnel remuneration who were also the directors was as follows:

31.03.25

31.03.24

£

£

Directors' remuneration

32,133

31,385

Directors' pension contributions to money purchase schemes

140,000

165,000

172,133

199,385

The number of directors accruing pension benefits during the period was 2 (2024: 2)

EMPLOYEES AND DIRECTORS - continued

Company

The average number of directors during the period was 3. There were no full time employees and no remuneration was paid.