ACCOUNTS - Final Accounts preparation

Registered number: 11323310

PRAEMAR LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

PRAEMAR LIMITED

REGISTERED NUMBER:11323310

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Intangible assets	6		1,287,874		1,747,142
Tangible assets	7		110,198		127,135
			1,398,072		1,874,277
Current assets
Stocks	9	2,038,495		1,871,450
Debtors: amounts falling due within one year	10	2,010,457		2,011,635
Cash at bank and in hand	11	1,245,985		749,658
		5,294,937		4,632,743
Creditors: amounts falling due within one year	12	(9,033,878)		(9,028,181)
Net current liabilities			(3,738,941)		(4,395,438)
Total assets less current liabilities			(2,340,869)		(2,521,161)
Provisions for liabilities
Net liabilities			(2,340,869)		(2,521,161)

Capital and reserves
Called up share capital	15	3	11
Capital redemption reserve	16	8	-
Profit and loss account	16	(2,340,880)	(2,521,172)
		(2,340,869)	(2,521,161)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S Dede

Director

Date: 23 December 2025

The notes on pages 5 to 18 form part of these financial statements.

Page 1

PRAEMAR LIMITED

REGISTERED NUMBER:11323310

COMPANY STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investments	8		9,351,227		9,351,227
			9,351,227		9,351,227

Creditors: amounts falling due within one year	12	(8,487,153)		(8,308,892)
Net current liabilities			(8,487,153)		(8,308,892)
Total assets less current liabilities			864,074		1,042,335


Net assets			864,074		1,042,335

Capital and reserves
Called up share capital	15	3	11
Capital redemption reserve	16	8	-
Profit and loss account	16	864,063	1,042,324
		864,074	1,042,335

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S Dede

Director

Date: 23 December 2025

The notes on pages 5 to 18 form part of these financial statements.

Page 2

PRAEMAR LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2023	11	-	(2,777,458)	(2,777,447)
Comprehensive income for the year
Profit for the year	-	-	256,286	256,286

At 1 April 2024	11	-	(2,521,172)	(2,521,161)

Profit for the year	-	-	317,003	317,003
Purchase of own shares	-	8	-	8
Dividends paid	-	-	(136,711)	(136,711)
Shares cancelled during the year	(8)	-	-	(8)
At 31 March 2025	3	8	(2,340,880)	(2,340,869)

The notes on pages 5 to 18 form part of these financial statements.

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Capital redemption reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2023	11	-	1,047,254	1,047,265
Comprehensive income for the year
Loss for the year	-	-	(4,930)	(4,930)

At 1 April 2024	11	-	1,042,324	1,042,335

Loss for the year	-	-	(41,550)	(41,550)
Purchase of own shares	-	8	-	8
Dividends paid	-	-	(136,711)	(136,711)
Shares cancelled during the year	(8)	-	-	(8)
At 31 March 2025	3	8	864,063	864,074

The notes on pages 5 to 18 form part of these financial statements.

Page 3

PRAEMAR LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial year	317,003	256,286
Adjustments for:
Amortisation of intangible assets	459,268	470,863
Depreciation of tangible assets	53,202	66,526
Taxation charge	39,669	(82,526)
(Increase) in stocks	(167,045)	(128,976)
Decrease/(increase) in debtors	10,336	(146,759)
Increase in creditors	470,159	124,769
Net cash generated from operating activities	1,182,592	560,183

Cash flows from investing activities
Sale of intangible assets	-	12,096
Purchase of tangible fixed assets	(36,265)	(44,180)
Sale of tangible fixed assets	-	2,062
Net cash from investing activities	(36,265)	(30,022)
Cash flows from financing activities
Repayment of other loans	(513,289)	-
Preference dividends paid	(136,711)	-
Net cash used in financing activities	(650,000)	-
Net increase in cash and cash equivalents	496,327	530,161
Cash and cash equivalents at beginning of year	749,658	219,497
Cash and cash equivalents at the end of year	1,245,985	749,658

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	1,245,985	749,658
	1,245,985	749,658

The notes on pages 5 to 18 form part of these financial statements.

Page 4

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	GENERAL INFORMATION

Praemar Limited is a private company limited by shares and incorporated in England and Wales. Its registered address is 1-2 Ashmead Business Park, Ashmead Road, Keynsham, Bristol, BS31 1SU. The prinicpal activity of the company is a holding company.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

2.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

2.3

GOING CONCERN

The Directors consider the Group and Company to have sufficient resources to continue trading for at least 12 months from the date of approval of the financial statements. The Group and Company have a letter of support from Praesidian Capital Luxco 2 S.A.R.L, that states that the loan balance of £7,461,708 will not need to be repaid until the group has sufficient distributable reserves.The Directors have therefore adopted the going concern basis in preparing the financial statements.

Page 5

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.4

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.5

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.6

OPERATING LEASES: THE GROUP AS LESSEE

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 6

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.7

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 shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2.8

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.10

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

Page 7

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.11

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.12

INTANGIBLE ASSETS

GOODWILL

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of comprehensive income over its useful economic life.

OTHER INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Development expenditure	-	3	years
Goodwill	-	10	years
Trademarks	-	5	years
Computer Software	-	5	years

Page 8

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.13

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements	-	20%
Plant and machinery	-	20%
Motor vehicles	-	20%
Fixtures and fittings	-	20%
Computer equipment	-	20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.14

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

2.15

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.16

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.17

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

Page 9

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.18

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.19

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.20

FINANCIAL INSTRUMENTS

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Statement of financial position when the Group becomes party to the contractual provisions of the instrument.

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

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Page 10

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.ACCOUNTING POLICIES (CONTINUED)

2.20

FINANCIAL INSTRUMENTS (CONTINUED)

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

3.	AUDITORS' REMUNERATION

Fees payable to the Group's auditor for the audit of the Group's annual financial statements totalled £3,900 (2024 - £3,680).

EMPLOYEES

The average monthly number of employees, including directors, during the year was 35 (2024: 34).

5.	PARENT COMPANY PROFIT FOR THE YEAR

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The loss after tax of the parent Company for the year was £41,550 (2024: loss £4,930).

Page 11

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

6.	INTANGIBLE ASSETS
	Group

	Development expenditure	Trademarks	Computer software	Goodwill	Total
	£	£	£	£	£
COST
At 1 April 2024	54,112	42,228	100,010	4,931,120	5,127,470
At 31 March 2025	54,112	42,228	100,010	4,931,120	5,127,470
AMORTISATION
At 1 April 2024	50,841	23,784	85,008	3,220,695	3,380,328
Charge for the year on owned assets	3,271	8,446	15,002	432,549	459,268
At 31 March 2025	54,112	32,230	100,010	3,653,244	3,839,596
NET BOOK VALUE
At 31 March 2025	-	9,998	-	1,277,876	1,287,874
At 31 March 2024	3,271	18,444	15,002	1,710,425	1,747,142

Page 12

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

7.	TANGIBLE FIXED ASSETS
	Group

	Leasehold improvements	Plant & machinery	Fixtures & fittings	Computer equipment	Total
	£	£	£	£	£
COST
At 1 April 2024	122,779	375,833	30,601	73,677	602,890
Additions	25,821	3,545	-	6,899	36,265
At 31 March 2025	148,600	379,378	30,601	80,576	639,155
DEPRECIATION
At 1 April 2024	87,629	314,978	24,313	48,835	475,755
Charge for the year on owned assets	18,405	23,456	2,190	9,151	53,202
At 31 March 2025	106,034	338,434	26,503	57,986	528,957
NET BOOK VALUE
At 31 March 2025	42,566	40,944	4,098	22,590	110,198
At 31 March 2024	35,150	60,855	6,288	24,842	127,135

Page 13

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	FIXED ASSET INVESTMENTS

	Company

		Investments in subsidiary companies
		£
	COST OR VALUATION
	At 1 April 2024	9,351,227
	At 31 March 2025	9,351,227

SUBSIDIARY UNDERTAKINGS
The following were subsidiary undertakings of the Company:
Name	Principal activity	Class of shares	Holding

Nutrisure Limited	Sale of vegan food products	Ordinary	100%
Naturya Limited*	Dormant	Ordinary	100%
Supernutrients Limited*	Dormant	Ordinary	100%

* Indirect subsidiary

9.	STOCKS
		Group	Group
		2025	2024
		£	£

Finished goods and goods for resale	2,038,495	1,871,450
	2,038,495	1,871,450

Page 14

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

10.

DEBTORS

		Group	Group
		2025	2024
		£	£


Trade debtors	1,596,290	1,573,576
Other debtors	109,097	87,752
Prepayments and accrued income	166,930	221,325
Deferred taxation	138,140	128,982
	2,010,457	2,011,635

11.	CASH AND CASH EQUIVALENTS
		Group	Group
		2025	2024
		£	£

Cash at bank and in hand	1,245,985	749,658
	1,245,985	749,658

12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

Other loans	7,461,708	7,974,997	7,461,708	7,974,997
Trade creditors	883,674	382,920	-	-
Amounts owed to group undertakings	35,719	35,719	1,005,775	319,725
Corporation tax	48,827	-	-	-
Other taxation and social security	33,490	63,124	-	-
Other creditors	6,123	14,697	-	-
Accruals and deferred income	564,337	556,724	19,670	14,170
	9,033,878	9,028,181	8,487,153	8,308,892

The loan has a fixed and floating charge over the assets of the group.

Page 15

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

13.	LOANS
	Analysis of the maturity of loans is given below:
		Group	Group	Company	Company
		2025	2024	2025	2024
		£	£	£	£

AMOUNTS FALLING DUE WITHIN ONE YEAR
Other loans	7,461,708	7,974,997	7,461,708	7,974,997



	7,461,708	7,974,997	7,461,708	7,974,997

A loan of £11,000,000 was received from Praesidian Capital Luxco 2 S.A.R.L, a shareholder of the company in 2019. The loan is repayable through quarterly instalments. During 2025 £513,289 (2024: £Nil) have been repaid at the agreement of Praesidian Capital Luxco 2 S.A.R.L. No interest is payable on the loan. An effective rate of interest had been calculated at 6%.

14.	DEFERRED TAXATION
	Group

		2025
		£

	At beginning of year	128,982
	Charged to profit or loss	9,158
	AT END OF YEAR	138,140

		Group	Group
		2025	2024
		£	£

Accelerated capital allowances	138,140	127,733
Other differences	-	1,249
	138,140	128,982

Page 16

PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15.	SHARE CAPITAL
		2025	2024
		£	£

ALLOTTED, CALLED UP AND FULLY PAID

100 (2024: 100) Preference shares of £0.01000 each	1	1
Nil (2024: 6,460) Ordinary A shares of £0.00118 each	-	8
2,040 (2024: 2,040) Ordinary B shares of £0.00118 each	2	2

	3	11

In May 2024, 6,460 Ordinary A shares were transferred to the company for £nil consideration and were subsequently cancelled.

16.

RESERVES

Capital redemption reserve

The capital redemption reserve reflects the nominal value of shares repurchased and subsequently cancelled.

Profit and loss account

Profit and loss account includes all current retained profits and losses.

17.	PENSION COMMITMENTS

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £35,088 (2024: £36,800). Contributions totalling £6,123 (2024: £11,689) were payable to the fund at the reporting date and are included in creditors.

18.

RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption available under FRS 102 from disclosing transactions and balances with other wholly owned group companies that form part of the Praemar Limited group.
A loan of £11,000,000 was received from Praesidian Capital Luxco 2 S.A.R.L, a shareholder of the company in 2019. The loan is repayable through quarterly instalments. During 2025 £513,288 (2024: £Nil) have been repaid at the agreement of Praesidian Capital Luxco 2 S.A.R.L. No interest is payable on the loan. An effective rate of interest has been calculated at 6%.

19.	CONTROLLING PARTY

The immediate parent undertaking is Praesidian Capital Europe Master LP whose registered office is 20-22 Bedford Row, London, WC1R 4JS. The ultimate controlling party is J Drattell.

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PRAEMAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

20.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 23 December 2025 by Christian Crawford ACA (Senior statutory auditor) on behalf of Bishop Fleming Audit Limited.

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