Poole Bay Holdings Limited

	Page
Strategic Report	1—2
Directors' Report	3—4
Independent Auditor's Report	5—8
Consolidated Profit and Loss Account	9
Consolidated Statement of Comprehensive Income	10
Consolidated Balance Sheet	11
Company Balance Sheet	12—13
Consolidated Statement of Changes in Equity	14
Consolidated Statement of Cash Flows	15
Notes to the Consolidated Statement of Cash Flows	16
Notes to the Financial Statements	17—27

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

Review of the Business

The Poole Bay Holdings Limited group of companies are direct marketers with a growing manufacturing arm, who market via catalogues and multiple websites. We make and supply essential business products to companies across the United Kingdom.

Our vision is to be the go-to provider of products in every niche we serve, through outstanding range, service and value.

Turnover for the period to 31 March 2025 totalled £40,559,832 (2024 - £38,391,676)

Gross margin, in £ terms, remained fairly neutral year on year. However, gross margin percentage fell slightly in the year to 33.04% compared to 35.49% in 2024 which is as expected.

The Company is constantly looking to its vision and strategy going forward and evaluation of new opportunities in niche markets through web development and acquisition.

Principal Risks and Uncertainties

The company operates under significant laws and regulations that govern the continued trade and operations. The principle risk to the company are changes to these laws and regulations. It is of foremost concern to the directors therefore to ensure that the company operates within its legal constraints.

Foreign currency exchange

One of the company's principal risks relates to the purchases it makes in foreign currencies. The company attempts to manage this via forward contracts, foreign bank accounts and buying when currencies are favourable.

Liquidity and cashflow

The directors regularly review the companies performance and cashflow, together with forecasts, buying and stock requirements. They consider the company has adequate headroom for the foreseeable future, ensuring adequate reserves are in place at all times.

Interest risk

The company has minimal exposure to interest risk due to its low requirement on debt financing.

Credit risk

The company ensures that the vetting process for customers is robust and adhered to, including credit checking where necessary. Trade debtors are closely monitored on an ongoing basis, reducing the exposure to minimal levels.

Employee Engagement Statement

The Board of Directors is committed to the ongoing enhancement of our employee engagement initiatives. We believe that engaged employees are more productive, innovative, and committed to our company's vision and values. By creating a positive work environment and fostering a sense of belonging, we aim to retain our talented workforce and attract top talent to join us in achieving our goals.

We extend our appreciation to our employees for their dedication and contributions to our company's success. Their passion and commitment are instrumental in our journey toward excellence and sustainable growth.

We are confident that by prioritizing employee engagement, we will continue to strengthen our position as an industry leader and create value for our shareholders and stakeholders.

Statement of Engagement with Suppliers, Customers and Others in a Business Relationship with the Group

The Board of directors is dedicated to maintaining and strengthening our relationships with both suppliers and customers. These relationships are vital to our vision to be the go-to provider of products in every niche we serve, throughoutstanding range, service and value.

Our customers are the lifeblood of our business, and we are dedicated to meeting their needs and exceeding their expectations. Our principles with customers include:

We put our customers at the centre of everything we do, striving to provide them with exceptional products and services.

We build trust by consistently delivering on our promises and providing reliable products and services.

We listen to our customers, promptly address their concerns, and continuously improve our offerings based on their feedback.

We prioritize the protection of customer data and adhere to strict data privacy and security standards.

...CONTINUED

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Poole Bay Holdings Limited

Strategic Report (continued)

For The Year Ended 31 March 2025

Statement of Engagement with Suppliers, Customers and Others in a Business Relationship with the Group - continued

We are committed to offering fair and competitive pricing to our customers, ensuring value for their investment.

Our suppliers are essential partners in our supply chain, and we highly value the relationships we have built over the years. We are committed to conducting business with integrity and fairness.

We uphold fair and ethical business practices, ensuring that our suppliers are treated with respect and are paid promptly for their products and services.

We collaborate closely with our suppliers to ensure the quality and innovation of the products and services we offer to our customers.

We prioritize sustainability in our supply chain, working with suppliers who share our commitment to environmental responsibility.

We maintain open lines of communication with our suppliers, keeping them informed about our business needs and challenges.

Statement of Corporate Governance Arrangements

Our board of directors is dedicated to upholding the highest standards of corporate governance. We adhere to a strong code of ethics, promoting honesty, integrity, and transparency in all our business dealings. We maintain accountability to our shareholders, stakeholders, and regulatory authorities by regularly reporting on our financial performance and corporate governance practices.

We have established robust risk management procedures and internal controls to identify, assess, and mitigate risks effectively. We comply with all applicable laws, regulations, and industry standards and regularly assess and update our compliance measures.

The Board of Directors understand that good governance fosters trust and contributes to our reputation as a responsible and accountable organization.

Section 172(1) Statement

From the perspective of the board, the matters that it is responsible for considering under Section 172 (1) of the Companies Act 2006 ('sl72') have been considered to an appropriate extent by the board. As required by s 172 of the Companies Act, a Director of a company must act in the way he or she considers, in good faith, would likely promote the success of the company for the benefit of shareholders, whilst also considering the impact of such decisions on the wider stakeholder group. We have placed as a high goal to be collaborative with all stakeholder groups including customers, investors, employees, suppliers and regulators, listening to feedback and being open to change. In doing so, the board has had regard, amongst others, to the following issues:

Likely consequences of any decisions in the long term;

Interests of the company's employees;

Need to foster the company's business relationships with suppliers/customers and others;

Impact of the company's operations on the community and environment;

Reputation for high standards of business conduct;

The need to act fairly as between members of the company.

On behalf of the board

Mr Martyn Bright

Director

23/12/2025

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Poole Bay Holdings Limited

Company No. 10701446

Directors' Report For The Year Ended 31 March 2025

Directors' Report

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

Principal Activity

The group's principal activity continues to be that of sale of health and safety, first aid and related products.

Dividends

The value of dividends paid amounted to £1,166,000 .

Directors

The directors who held office during the year were as follows:

Mr Martyn Bright

Mr Hugh McKenna

Streamlined Energy and Carbon Reporting

	2025	2024
Uk Energy Usage Petrol & Diesal Litres	20,562	22,785
UK Energy Usage Electric & Gas Kwh	983,505	896,006

Container Shipping in Tonnes of C02e	230	288

Associated Greenhouse Gas Emissions in Tonnes of C02e equivalent	484	531

Intensity ratio based on Tonnes of CO2e per employee	2.12	2.46

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
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 and 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

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

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Poole Bay Holdings Limited

Directors' Report (continued)

For The Year Ended 31 March 2025

Independent Auditors

The auditors, mca Banbury Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Martyn Bright

Director

23/12/2025

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Independent Auditor's Report

to the Members of

Poole Bay Holdings Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Poole Bay Holdings Limited (the "parent company") and its subsidiaries (the "group") for the year ended 31 March 2025 which comprise the Consolidated Profit and Loss Account, Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes of Equity, Company Statement of Changes of Equity, Consolidated Cash Flow Statement and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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/(loss) 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

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

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Poole Bay Holdings Limited

Matters on Which We Are Required to Report by Exception

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

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

adequate accounting records have not been kept 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 or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 3—4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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Independent Auditor's Report (continued)

to the Members of

Poole Bay Holdings Limited

Auditor's Responsibilities for the Audit of the Financial Statements

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

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

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations:

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding ofhow fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspectedand alleged fraud; and

Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.To address the risk of fraud through management bias and override of controls, we:

Performed analytical procedures to identify any unusual or unexpected relationships;

Tested journal entries to identify unusual transactions;

Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; andInvestigated the rationale behind significant or unusual transactions.In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Agreeing financial statement disclosures to underlying supporting documentation

Enquiring of management as to actual and potential litigation and claims;

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Report of the Auditors to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Report of the Auditors. However, future events or conditions may cause the company to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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

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Independent Auditor's Report (continued)

to the Members of

Poole Bay Holdings Limited

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 that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Martin Cox (Senior Statutory Auditor)

for and on behalf of mca Banbury Ltd , Statutory Auditor

23/12/2025

mca Banbury Ltd

Chartered Accountants and Registered Auditors

The American Barns, Banbury Road

Lighthorne, Warwick

Warwickshire

CV35 0AE

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Poole Bay Holdings Limited

Consolidated Profit and Loss Account

For The Year Ended 31 March 2025

Consolidated Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	4	40,559,832	38,391,676
Cost of sales		(27,149,172 )	(24,628,791 )

GROSS PROFIT		13,410,660	13,762,885

Administrative expenses		(12,787,625 )	(12,650,180 )
Other operating income		9,240	-

OPERATING PROFIT	5	632,275	1,112,705
Loss on disposal of fixed assets		(123,507 )	-
Other interest receivable and similar income	9	256,559	299,269
Interest payable and similar charges	10	30,437	(2,105 )

PROFIT BEFORE TAXATION		795,764	1,409,869
Tax on Profit	11	(104,476 )	(422,790 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		691,288	987,079

The notes on pages 16 to 27 form part of these financial statements.

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Poole Bay Holdings Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 March 2025

Consolidated Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	691,288	987,079
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT	691,288	987,079

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Poole Bay Holdings Limited

Consolidated Balance Sheet

As At 31 March 2025

Consolidated Balance Sheet

Registered number: 10701446

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	12		255,391		391,201
Tangible Assets	13		2,592,190		2,872,056

			2,847,581		3,263,257
CURRENT ASSETS
Stocks	14	5,330,397		5,255,804
Debtors	15	5,078,400		3,935,009
Cash at bank and in hand		6,187,220		7,388,639

		16,596,017		16,579,452
Creditors: Amounts Falling Due Within One Year	16	(5,145,322 )		(4,859,449 )

NET CURRENT ASSETS (LIABILITIES)			11,450,695		11,720,003

TOTAL ASSETS LESS CURRENT LIABILITIES			14,298,276		14,983,260

PROVISIONS FOR LIABILITIES
Provisions For Charges	19		(155,900 )		(336,100 )
Deferred Taxation	18		(389,620 )		(419,692 )

NET ASSETS			13,752,756		14,227,468

CAPITAL AND RESERVES
Called up share capital	20		590		590
Other reserves			102,698		102,698
Profit and Loss Account			13,649,468		14,124,180

SHAREHOLDERS' FUNDS			13,752,756		14,227,468

On behalf of the board

Mr Martyn Bright

Director

23/12/2025

The notes on pages 16 to 27 form part of these financial statements.

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Poole Bay Holdings Limited

Company Balance Sheet

As At 31 March 2025

Company Balance Sheet

Registered number: 10701446

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	12		53,510		80,265
Investments			1,396		1,396

			54,906		81,661
CURRENT ASSETS
Debtors	15	7,506,661		8,672,661

		7,506,661		8,672,661
Creditors: Amounts Falling Due Within One Year	16	(70,105 )		(70,105 )

NET CURRENT ASSETS (LIABILITIES)			7,436,556		8,602,556

TOTAL ASSETS LESS CURRENT LIABILITIES			7,491,462		8,684,217

NET ASSETS			7,491,462		8,684,217

CAPITAL AND RESERVES
Called up share capital	20		590		590
Profit and Loss Account			7,490,872		8,683,627

SHAREHOLDERS' FUNDS			7,491,462		8,684,217

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Poole Bay Holdings Limited

Company Balance Sheet (continued)

As At 31 March 2025

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's (loss)/profit for the year was £(26,755 ) (2024: £ 1,344,315 profit).

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Martyn Bright

Director

23/12/2025

The notes on pages 16 to 27 form part of these financial statements.

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Poole Bay Holdings Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 March 2025

Consolidated Statement of Changes in Equity

	Share Capital	Other reserves	Profit and Loss Account	Total
	£	£	£	£
As at 1 April 2023	590	102,698	14,508,171	14,611,459
Profit for the year and total comprehensive income	-	-	987,079	987,079

Dividends paid	-	-	(1,371,070)	(1,371,070)

As at 31 March 2024 and 1 April 2024	590	102,698	14,124,180	14,227,468


Profit for the year and total comprehensive income	-	-	691,288	691,288

Dividends paid	-	-	(1,166,000)	(1,166,000)

As at 31 March 2025	590	102,698	13,649,468	13,752,756

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Poole Bay Holdings Limited

Consolidated Statement of Cash Flows

For The Year Ended 31 March 2025

Consolidated Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	1,060,904	2,695,798
Interest refunded/(paid)		30,437	(2,105 )
Tax paid		(315,307 )	(291,523 )

Net cash generated from operating activities		776,034	2,402,170

Cash flows from investing activities
Purchase of tangible assets		(457,934 )	(1,402,305 )
Grants received		9,240	-
Interest received		256,559	299,269

Net cash used in investing activities		(192,135 )	(1,103,036 )

Cash flows from financing activities
Equity dividends paid		(1,166,000 )	(1,371,070 )
Proceeds from new other loans		2,251	2,105
Amount withdrawn by directors		(621,569)	(92,495)

Net cash used in financing activities		(1,785,318 )	(1,461,460 )



Decrease in cash and cash equivalents		(1,201,419 )	(162,326 )
Cash and cash equivalents at beginning of year	2	7,388,639	7,550,965

Cash and cash equivalents at end of year	2	6,187,220	7,388,639

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Poole Bay Holdings Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 March 2025

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	691,288	987,079
Adjustments for:
Tax on profit	104,476	422,790
Interest expense	(30,437 )	2,105
Interest income	(256,559 )	(299,269 )
Amortisation of intangible assets	99,810	107,810
Depreciation of tangible assets	608,646	708,611
Loss on disposal of intangible assets	36,000	-
Loss on disposal of tangible assets	127,945	-
Grant income	(9,240)	-
Foreign exchange gains	(2,083)	-
Movements in working capital:
(Increase)/decrease in stocks	(74,593 )	1,490,198
(Increase)/decrease in trade and other debtors	(515,905 )	434,947
Increase/(decrease) in trade and other creditors	281,556	(1,158,473 )

Net cash generated from operations	1,060,904	2,695,798

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	6,187,220	7,388,639

3. Analysis of changes in net funds

	As at 1 April 2024	Cash flows	As at 31 March 2025
	£	£	£
Cash at bank and in hand	7,388,639	(1,201,419)	6,187,220
Debts falling due within one year	(57,048 )	(2,251)	(59,299 )

	7,331,591	(1,203,670)	6,127,921

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Poole Bay Holdings Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Poole Bay Holdings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10701446 . The registered office is 1st Floor, Fleetsbridge House, Fleets Corner Business Park, Nuffield Road, Poole, Dorset, BH17 0LA.

The presentation currency of the financial statements is the Pound Sterling (£).

All monetary amounts are rounded to the nearest pound.

2. Statement of Compliance

The 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.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention.

3.2. Basis Of Consolidation

The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 March 2025.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.

Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group 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. The results of associates are accounted for using the equity method of accounting.

Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.

Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.

Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.

3.3. Business Combinations

Business combinations are accounted for by applying the purchase method.

The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.

Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.

On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.

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Poole Bay Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3.4. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the group and parent company's ability to continue as a going concern.

3.5. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

3.6. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill represents the excess of the cost of a business combination over the fair value of the group’s share of the identifiable net assets, liabilities and contingent liabilities acquired.

Goodwill arising on the acquisition of subsidiaries is included in Intangible Assets. Goodwill arising on the acquisition of associates and joint ventures is included in the related equity accounted investment value.

Goodwill is amortised over its expected useful life which is estimated to be 10 years.

Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the profit and loss account. No reversals of impairment are recognised.

3.7. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are amortised to profit and loss account over its estimated economic life of 5 years.

3.8. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred.

3.9. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	7 years Straight Line
Plant & Machinery	6 years Straight Line
Motor Vehicles	3 years Straight Line
Fixtures & Fittings	5 years Straight Line
Computer Equipment	3 years Straight Line

3.10. Investments

Long term investments are classified as fixed assets. Short term investments are classified as current assets. Fixed asset investments are stated at cost in the company balance sheet. Unlisted investments are stated at cost. Provision is made for any impairment in the value of fixed asset investments.

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Poole Bay Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3.11. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

3.12. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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

3.13. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

3.14. Financial Instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables or receivables are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

3.15. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3.16. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Poole Bay Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

3.17. Provisions and Contingencies

Provisions

Provisions are recognised when the group has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

Contingencies

Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the group’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

3.18. Pensions

The group operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

4. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Medical Supplies	20,811,134	22,533,233
Sale of other goods	5,493,194	2,986,575
Workplace Safety & Facilities	14,255,504	12,871,868

	40,559,832	38,391,676

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	40,289,169	37,780,226
Europe	-	161,245
North America	270,663	450,205

	40,559,832	38,391,676

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Poole Bay Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	(139,546)	(4,982)
Research and Development Costs	68,024	57,028
Operating lease rentals	964,978	881,050
Depreciation of tangible fixed assets	608,646	708,611
Amortisation of intangible fixed assets	99,810	107,810

6. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the group and company's financial statements	30,000	30,000


Other Services
Other non-audit services	15,000	15,000

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	7,746,145	7,479,706
Social security costs	659,648	560,784
Other pension costs	231,923	221,802

	8,637,716	8,262,292

8. Average Number of Employees

Group

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	40	41
Sales, marketing and distribution	80	85
Directors	4	4
Production and warehousing	107	82

	231	212

Company

Average number of employees, including directors, during the year was: 3 (2024: 3)

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Poole Bay Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	218,061	293,473
Other interest receivable	38,498	5,796

	256,559	299,269

10. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	2,251	2,105
Foreign exchange charges	(32,688 )	-

	(30,437)	2,105

11. Tax on Profit

	Tax Rate		2025	2024
The tax charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	234,776	341,009
Prior period adjustment			(100,228 )	(33,124 )

			134,548	307,885
Deferred Tax
Origination and reversal of timing differences			(30,072 )	114,905


Total tax charge for the period			104,476	422,790


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2025	2024
			£	£
Profit before tax			795,764	1,409,869

Tax on profit at 25% (UK standard rate)			198,941	352,467
Goodwill/depreciation not allowed for tax			22,938	19,864
Expenses not deductible for tax purposes			(204 )	69,747
Tax losses utilised			(32,956 )	-
Capital allowances			15,985	13,611
Prior period adjustment			(100,228 )	(33,124 )
Difference in tax rates			-	225

Total tax charge for the period			104,476	422,790

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Poole Bay Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Intangible Assets

Group

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 April 2024	547,550	265,273	812,823
Disposals	(80,000 )	-	(80,000 )

As at 31 March 2025	467,550	265,273	732,823

Amortisation
As at 1 April 2024	286,285	135,337	421,622
Provided during the period	46,755	53,055	99,810
Disposals	(44,000 )	-	(44,000 )

As at 31 March 2025	289,040	188,392	477,432

Net Book Value
As at 31 March 2025	178,510	76,881	255,391

As at 1 April 2024	261,265	129,936	391,201

On 31 March 2017 Poole Bay Holdings acquired the shares in all undertakings following a share for share exchange with Poole

Bay Holdings Management Limited, the group's former holding company.

The transaction gave rise to the goodwill noted above. The directors and shareholders consider that this should all be amortised in full following the transaction.

Also included within goodwill is the goodwill on the acquisition of the trade of Fristaid4sport.

Company

	Goodwill
	£
Cost
As at 1 April 2024	267,550

As at 31 March 2025	267,550

Amortisation
As at 1 April 2024	187,285
Provided during the period	26,755

As at 31 March 2025	214,040

Net Book Value
As at 31 March 2025	53,510

As at 1 April 2024	80,265

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Poole Bay Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

13. Tangible Assets

Group

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost or Valuation
As at 1 April 2024	974,563	2,241,497	240,833	665,551
Additions	95,126	177,364	-	89,797
Disposals	(116,125 )	(537,404 )	(69,936 )	(144,605 )
Transfers	331,967	(536 )	-	(274,729 )

As at 31 March 2025	1,285,531	1,880,921	170,897	336,014

Depreciation
As at 1 April 2024	389,484	946,484	108,300	275,381
Provided during the period	103,846	336,204	35,257	100,329
Disposals	(174,830 )	(457,627 )	(64,105 )	(45,558 )
On revaluations	(45,886 )	34,877	(9,933 )	(119,776 )
Transfers	44,660	-	-	(26,762 )

As at 31 March 2025	317,274	859,938	69,519	183,614

Net Book Value
As at 31 March 2025	968,257	1,020,983	101,378	152,400

As at 1 April 2024	585,079	1,295,013	132,533	390,170


	Computer Equipment	Total
	£	£
Cost or Valuation
As at 1 April 2024	865,608	4,988,052
Additions	95,647	457,934
Disposals	(153,208 )	(1,021,278 )
Transfers	(56,702 )	-

As at 31 March 2025	751,345	4,424,708

Depreciation
As at 1 April 2024	396,347	2,115,996
Provided during the period	183,314	758,950
Disposals	(150,001 )	(892,121 )
On revaluations	(9,589 )	(150,307 )
Transfers	(17,898 )	-

As at 31 March 2025	402,173	1,832,518

Net Book Value
As at 31 March 2025	349,172	2,592,190

As at 1 April 2024	469,261	2,872,056

Company

The company had no tangible fixed assets as at 31 March 2025 or 31 March 2024.

Page 24

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Poole Bay Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

14. Stocks

	2025	2024
	£	£
Materials	1,197,777	1,264,879
Finished goods	4,132,620	3,990,925

	5,330,397	5,255,804

15. Debtors

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Due within one year
Trade debtors	2,366,059	2,241,269	-	-
Amounts owed by group undertakings	-	-	6,951,046	8,672,661
Other debtors	2,712,341	1,693,740	555,615	-

	5,078,400	3,935,009	7,506,661	8,672,661

16. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2025	2024	2025	2024
	£	£	£	£
Trade creditors	1,509,718	1,588,796	-	-
Other loans	59,299	57,048	-	-
Amounts owed to group undertakings	-	-	70,105	70,105
Other creditors	1,309,198	1,440,928	-	-
Corporation tax	228,829	341,009	-	-
Taxation and social security	489,302	313,928	-	-
Accruals and deferred income	1,548,976	1,117,740	-	-

	5,145,322	4,859,449	70,105	70,105

17. Loans

An analysis of the maturity of loans is given below:

	Group
	2025	2024
	£	£
Amounts falling due within one year or on demand:
Other loans	59,299	57,048

18. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	389,620	419,692

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Poole Bay Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

19. Provisions for Liabilities

Group
	Deferred Tax	Other Provisions	Total
	£	£	£
As at 1 April 2024	419,692	336,100	755,792
Additions	124,547	150,890	275,437
Utilised	(157,911 )	(331,090 )	(489,001)

Balance at 31 March 2025	386,328	155,900	542,228

20. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
148 Ordinary A shares of £ 1.00 each	148	148
148 Ordinary B shares of £ 1.00 each	148	148
147 Ordinary C shares of £ 1.00 each	147	147
147 Ordinary D shares of £ 1.00 each	147	147

	590	590

21. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	915,425	1,015,842
Later than one year and not later than five years	2,060,283	2,975,708

	2,975,708	3,991,550

22. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £231,923 (2024: £221,802).

At the balance sheet date contributions of £31,652 (2024: £26,715) were due to the fund and are included in creditors.

23. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Hugh McKenna	102,412	1,235,097	(583,000 )	-	754,509

The above loan is unsecured, interest free and repayable on demand. All loan balances were cleared on the 15th December 2025 through dividends declared.

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Poole Bay Holdings Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

24. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	1,166,000	1,371,070

25. Related Party Disclosures

At the year end No Butts Bin Co. Limited was owed £272,593 (2024 - £319,082) by No Butts Bin Co Inc. A company in which the Directors hold a material interest.

26. Fixed Asset Investments

Details of the company's subsidiaries as at 31 March 2025 are as follows:

Name of Undertaking	Class of Share held	% of Shares Held
PBH Manufacturing Limited	Ordinary	100
Catalogue Marketing Limited	Ordinary	100
CMUK Visual Safety Limited	Ordinary	100
Koolpak Limited	Ordinary	100
Medsport GB Limited	Ordinary	100
Medi Supplies Limited	Ordinary	100
Nationwide School Supplies Limited	Ordinary	100
No Butts Bin Co. Limited	Ordinary	100
No Smoking Prdocuts Limited	Ordinary	100
Poole Bay Holdings Management Limited	Ordinary	100
Products for Business Limited	Ordinary	100
School Supplies Limited	Ordinary	100
The Catalogue Club Limited	Ordinary	100
Treetop Publishing Limited	Ordinary	100
V Safety Limited	Ordinary	100
Value Products Limited	Ordinary	100
Axent Embroidery Limited	Ordinary	100
Creative Sign Factory Limited	Ordinary	100
PBH Medical Limited	Ordinary	100
Firstaid4sport Limited	Ordinary	100

All undertakings are held directly by Poole Bay Holdings Limited with the exception on Axent Embroidery Limited and Firstaid4sport Limited which is held directly by Value Products Limited.

All companies are incorporated in England and Wales, included in the consolidation and share the same registered office as Poole Bay Holdings Limited.

Page 27