F.D.D. International Limited Company accounts

COMPANY REGISTRATION NUMBER: 2689858

F.D.D. INTERNATIONAL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2025

F.D.D. INTERNATIONAL LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Contents	Page

Strategic report	1

Directors' report	4

Independent auditor's report to the members	6

Profit and loss account	9

Balance sheet	10

Statement of cash flows	11

Notes to the financial statements	12

F.D.D. INTERNATIONAL LIMITED

STRATEGIC REPORT

YEAR ENDED 31 MARCH 2025

REVIEW OF THE BUSINESS F.D.D. International Limited specialises in the distribution of beauty products across multiple channels, including high street retail, e-commerce platforms, wholesale, export and a newly trialled direct to customer (DTC) model via TikTok Shop. The company continues to deliver flexible, tailored distribution solutions to both heritage and emerging beauty brands, leveraging strong relationships with leading UK retailers and digital platforms to maximise reach and performance. Our in-house marketing team supports brand growth through integrated campaigns and collaboration with external agencies. Operationally, we have begun incorporating AI tools to enhance productivity and streamline workflows across departments. During the year, F.D.D. successfully expanded its skincare portfolio and re-entered the colour cosmetics category, reinforcing its position as a dynamic and responsive distributor in the UK beauty sector. PRINCIPAL RISKS AND UNCERTAINTIES Risk management is embedded within a structured framework of policies, procedures and internal controls, regularly reviewed by the Board and Leadership Team. Monthly profitability reports for each brand ensure financial viability and performance transparency. To optimise working capital and reduce stock exposure, the company continues to implement new systems for more efficient inventory management. In collaboration with US brand partners, we are actively mitigating tariff risks and exploring currency mechanisms to protect our US dollar position, enhancing financial resilience and global trade fluctuations. Gross margins, previously affected by raising overheads, product costs, freight charges and currency exchange losses, have stabilised following targeted interventions in 2023/24. Our gross profit margin has now returned to more sustainable levels. We are also placing greater emphasis on securing robust distribution contracts to safeguard the business, particularly in scenarios where a brand is acquired or exits the market. KEY FINANCIAL PERFORMANCE INDICATORS Turnover and gross margin remain our primary financial indicators, reflecting both the scale and efficiency of our operations:

		2025		2024
		£		£

UK	24,975,433	14,536,686
Overseas	1,288,600	1,687,896
	------------	------------
Total	26,264,033	16,224,582
	------------	------------

Gross profit margin		33.3%		31.1%

BUSINESS REVIEW AND FUTURE DEVELOPMENTS The business entered a new phase of growth, with recently activated contracts exceeding expectations. We witnessed a strong uplift in sales revenue for 2024/25, driven by established brand partners and the introduction of new, high-potential entrants to the UK market. Our enduring relationship with leading retailers - across high street and online - continue to reinforce F.D.D.'s reputation as a trusted and agile distributor. With the appointment of a new Managing Director, the company is focused on delivering growth that is sustainable, manageable and scalable. Strategic leadership is now aligned with long-term goals that balance innovation with operational discipline. Inventory investment will increase in line with projected demands, supported by a healthy cash flow position. We remain committed to protecting our gross profit margin through careful cost control and ongoing operational improvements. Looking ahead to 2025/26, F.D.D. will continue to blend trend-driven opportunities with core heritage offerings, leveraging its solid foundations to deliver an ambitious yet achievable growth plan. As we evaluate new opportunities, we will ensure that service quality and operational capacity remain uncompromised. Beyond core categories, we are actively exploring adjacent and emerging segments that align with our distribution strengths and market positioning. This includes identifying new product verticals and consumer trends that complement our existing portfolio. We also plan to cultivate strategic relationships with key international partners to secure a robust pipeline of brand opportunities for 2025/26 and beyond, enhancing our position and reinforcing resilience in a dynamic market landscape.

This report was approved by the board of directors on 17 December 2025 and signed on behalf of the board by:

S Catton

Director

Registered office:

Unit F

Ascot Business Park

Lyndhurst Road

Ascot

Berkshire

SL5 9ED

F.D.D. INTERNATIONAL LIMITED

DIRECTORS' REPORT

YEAR ENDED 31 MARCH 2025

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

Directors

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

D J Clark
D Silvester
N Sheehan
N Peacock
S Catton

N Sheehan resigned on the 13th August 2025. R Tripp appointed on 1st October 2025.

Dividends

Particulars of recommended dividends are detailed in note 11 to the financial statements.

Qualifying indemnity provision

The company has qualifying third party indemnity provisions for the benefit of the directors. These provisions remain in place at the time of approval.

Disclosure of information in the strategic report

The company has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the company's strategic report information required by Medium-sized Companies (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the director's report. It has done so in respect of future developments.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Statement of disclosure of information to auditors

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

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

This report was approved by the board of directors on 17 December 2025 and signed on behalf of the board by:

S Catton

Director

Registered office:

Unit F

Ascot Business Park

Lyndhurst Road

Ascot

Berkshire

SL5 9ED

F.D.D. INTERNATIONAL LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF F.D.D. INTERNATIONAL LIMITED

YEAR ENDED 31 MARCH 2025

Opinion

We have audited the financial statements of F.D.D. International Limited (the 'company') for the year ended 31 March 2025 which comprise the profit and loss account, balance sheet, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for 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 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 company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: - Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulations and fraud; - Challenging assumptions and judgements made by management in their significant accounting estimates; - Identifying and testing journal entries, in particular any manual journal entries posted by unexpected users, posted with descriptions indicating a higher level of risk, or posted late with a favourable impact on financial performance. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 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 auditor’s report. Use of our report

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

W J E Kerr

(Senior Statutory Auditor)

For and on behalf of

Xeinadin Audit Limited

Chartered Accountants & Statutory Auditor

2 Crossways Business Centre

Bicester Road

Kingswood

Aylesbury

Bucks

HP18 0RA

24 December 2025

F.D.D. INTERNATIONAL LIMITED

PROFIT AND LOSS ACCOUNT

YEAR ENDED 31 MARCH 2025

		2025	2024
Note		£	£
Turnover	4	26,264,033	16,224,582

Cost of sales	( 17,528,122)	( 11,164,681)
	------------	------------
Gross profit	8,735,911	5,059,901

Distribution costs		( 2,508,830)	( 1,044,449)
Administrative expenses		( 3,223,556)	( 2,952,536)
		-----------	-----------
Operating profit	5	3,003,525	1,062,916

Other interest receivable and similar income	9	355,300	272,025
		-----------	-----------
Profit before taxation		3,358,825	1,334,941

Tax on profit	10	( 862,739)	( 359,922)
		-----------	-----------
Profit for the financial year and total comprehensive income		2,496,086	975,019
		-----------	-----------

Dividends paid and payable	11	( 150,000)	( 160,000)

Retained earnings at the start of the year	15,445,335	14,630,316
	------------	------------
Retained earnings at the end of the year	17,791,421	15,445,335
	------------	------------

All the activities of the company are from continuing operations.

F.D.D. INTERNATIONAL LIMITED

BALANCE SHEET

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	12		4,215,962		3,834,640

Current assets

Stocks	13	6,872,101	3,657,987
Debtors	14	4,871,804	3,136,677
Cash at bank and in hand		7,327,195	7,839,660
		------------	------------
		19,071,100	14,634,324

Creditors: amounts falling due within one year	15	( 5,317,091)		( 2,844,049)
		------------		------------
Net current assets			13,754,009		11,790,275
			------------		------------
Total assets less current liabilities			17,969,971		15,624,915

Provisions	16	( 87,800)	( 88,830)
		------------	------------
Net assets		17,882,171	15,536,085
		------------	------------

Capital and reserves

Called up share capital	19	45,375	45,375
Capital redemption reserve	20	45,375	45,375
Profit and loss account	20	17,791,421	15,445,335
		------------	------------
Shareholders funds		17,882,171	15,536,085
		------------	------------

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

These financial statements were approved by the board of directors and authorised for issue on 17 December 2025 , and are signed on behalf of the board by:

D J Clark	S Catton
Director	Director

Company registration number: 2689858

F.D.D. INTERNATIONAL LIMITED

STATEMENT OF CASH FLOWS

YEAR ENDED 31 MARCH 2025

	2025	2024
	£	£

Cash flows from operating activities

Profit for the financial year	2,496,086	975,019

Adjustments for:
Depreciation of tangible assets	194,420	178,301
Other interest receivable and similar income	( 355,300)	( 272,025)
Gains on disposal of tangible assets	( 5,255)	( 45,640)
Tax on profit	862,739	359,922

Changes in:
Stocks	( 3,214,114)	76,428
Trade and other debtors	( 1,735,127)	345,132
Trade and other creditors	2,392,184	73,386
	-----------	-----------
Cash generated from operations	635,633	1,690,523

Tax (paid)/received	( 782,911)	80,908
	--------	-----------
Net cash (used in)/from operating activities	( 147,278)	1,771,431
	--------	-----------

Cash flows from investing activities

Purchase of tangible assets	( 615,399)	( 290,062)
Proceeds from sale of tangible assets	44,912	53,750
Interest received	355,300	272,025
	--------	-----------
Net cash (used in)/from investing activities	( 215,187)	35,713
	--------	-----------

Cash flows from financing activities

Dividends paid	( 150,000)	( 160,000)
	--------	-----------
Net cash used in financing activities	( 150,000)	( 160,000)
	--------	-----------

Net (decrease)/increase in cash and cash equivalents	( 512,465)	1,647,144
Cash and cash equivalents at beginning of year	7,839,660	6,192,516
	-----------	-----------
Cash and cash equivalents at end of year	7,327,195	7,839,660
	-----------	-----------

F.D.D. INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit F, Ascot Business Park, Lyndhurst Road, Ascot, Berkshire, SL5 9ED.

2. Statement of compliance

The principal activities of the company during the year was the distribution of beauty and haircare products and the provision of marketing and logistical services. These financial statements have been prepared in accordance with the Companies Act 2006 and applicable accounting standards including Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102').

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Going concern

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

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Distributions to equity holders

Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

Judgements and key sources of estimation uncertainty

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods. Critical judgements in applying the Company's accounting policies The critical judgements that the directors have made in the progress of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below. (i) Assessing indicators of impairment In assessing whether there have been any indicators of impairment of assets, the directors have considered both internal and external sources of information such as market conditions, counterparty credit ratings and experience recoverability. There have been no indicators of impairments identified during the current financial year. Key sources of estimation uncertainty The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. (ii) Estimating value in use Where an indication of impairment exists the directors will carry out an impairment review to determine the recoverable amount, which is the higher of fair value less cost to sell and value in use. The value in use calculation requires the directors to estimate the future cash flows expected to arise from the asset or the cash generating unit and a suitable discount rate in order to calculate present value. (iii) Recoverability of receivables The company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the ageing of the receivables, past experience of recoverability, and the credit profile of individual or groups of customers. (iv) Determining useful economic lives of property, plant and equipment The company depreciate tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Revenue recognition

Turnover represents the total invoice value, excluding value added tax, of goods sold and services rendered during the year. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

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

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

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

Depreciation

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

Long leasehold property	-	2% straight line
Fixtures, fittings and equipment	-	25% straight line
Motor vehicles	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

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

Financial instruments

The company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments. Basic financial assets, which include 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 method. 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 estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include 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. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	26,264,033	16,221,657
Rendering of services	–	2,925
	------------	------------
	26,264,033	16,224,582
	------------	------------

The turnover is attributable to the one principal activity of the company. An analysis of turnover by the geographical markets that substantially differ from each other is given below:

	2025	2024
	£	£
United Kingdom	24,975,433	14,536,686
Overseas	1,288,600	1,687,896
	------------	------------
	26,264,033	16,224,582
	------------	------------

5. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Depreciation of tangible assets	194,420	178,301
Gains on disposal of tangible assets	( 5,255)	( 45,640)
Impairment of trade debtors	301	3,371
Foreign exchange differences	( 21,196)	( 18,902)
	--------	--------

6. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	18,000	18,000
	-------	-------

7. Staff costs

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

	2025	2024
	No.	No.
Administrative staff	28	29
Number of warehouse staff	6	8
	----	----
	34	37
	----	----

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

	2025	2024
	£	£
Wages and salaries	2,061,652	1,793,940
Social security costs	240,674	233,545
Other pension costs	274,699	371,507
	-----------	-----------
	2,577,025	2,398,992
	-----------	-----------

8. Directors' remuneration

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

	2025	2024
	£	£
Remuneration	982,815	781,550
Company contributions to defined contribution pension plans	137,094	229,948
	-----------	-----------
	1,119,909	1,011,498
	-----------	-----------

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	No.	No.
Defined contribution plans	4	5
	----	----

Remuneration of the highest paid director in respect of qualifying services:

	2025	2024
	£	£
Aggregate remuneration	182,513	171,745
Company contributions to defined contribution pension plans	48,024	112,640
	--------	--------
	230,537	284,385
	--------	--------

9. Other interest receivable and similar income

	2025	2024
	£	£
Interest on cash and cash equivalents	355,300	272,025
	--------	--------

10. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	863,768	327,623

Deferred tax:

Origination and reversal of timing differences	( 1,029)	32,299
	--------	--------
Tax on profit	862,739	359,922
	--------	--------

Reconciliation of tax expense

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

	2025	2024
	£	£
Profit on ordinary activities before taxation	3,358,825	1,334,941
	-----------	-----------
Profit on ordinary activities by rate of tax	839,706	333,735
Effect of expenses not deductible for tax purposes	22,069	26,187
Other timing differences	964	–
	-----------	-----------
Tax on profit	862,739	359,922
	-----------	-----------

11. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2025	2024
	£	£
Equity dividends on ordinary shares	150,000	160,000
	--------	--------

12. Tangible assets

	Long leasehold property	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	4,697,017	502,092	231,458	5,430,567
Additions	516,361	11,044	87,994	615,399
Disposals	–	( 18,749)	( 82,159)	( 100,908)
	-----------	--------	--------	-----------
At 31 March 2025	5,213,378	494,387	237,293	5,945,058
	-----------	--------	--------	-----------
Depreciation
At 1 April 2024	1,196,441	335,540	63,946	1,595,927
Charge for the year	88,576	48,354	57,490	194,420
Disposals	–	( 18,749)	( 42,502)	( 61,251)
	-----------	--------	--------	-----------
At 31 March 2025	1,285,017	365,145	78,934	1,729,096
	-----------	--------	--------	-----------
Carrying amount
At 31 March 2025	3,928,361	129,242	158,359	4,215,962
	-----------	--------	--------	-----------
At 31 March 2024	3,500,576	166,552	167,512	3,834,640
	-----------	--------	--------	-----------

13. Stocks

	2025	2024
	£	£
Finished goods and goods for resale	6,872,101	3,657,987
	-----------	-----------

An impairment loss of £339,470 (2024: £144,744) was recognised in cost of sales against stock during the year due to slow-moving and obsolete stock. There is no significant difference between the replacement cost of the inventory and its carrying value.

14. Debtors

	2025	2024
	£	£
Trade debtors	4,791,831	3,042,676
Prepayments and accrued income	78,388	93,853
Other debtors	1,585	148
	-----------	-----------
	4,871,804	3,136,677
	-----------	-----------

15. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	1,288,234	991,317
Accruals and deferred income	3,297,214	1,602,050
Corporation tax	89,230	8,372
Social security and other taxes	641,413	240,770
Other creditors	1,000	1,540
	-----------	-----------
	5,317,091	2,844,049
	-----------	-----------

16. Provisions

	Deferred tax (note 17)
	£
At 1 April 2024	88,830
Amounts recognised in profit and loss account	( 1,030)
	-------
At 31 March 2025	87,800
	-------

17. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2025	2024
	£	£
Included in provisions (note 16)	87,800	88,830
	-------	-------

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

	2025	2024
	£	£
Accelerated capital allowances	87,800	88,830
	-------	-------

18. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 274,699 (2024: £ 371,507 ).

19. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	35,000	35,000	35,000	35,000
Ordinary B shares of £ 1 each	10,375	10,375	10,375	10,375
	-------	-------	-------	-------
	45,375	45,375	45,375	45,375
	-------	-------	-------	-------

The Ordinary A and Ordinary B shares shall rank equally save for the Ordinary B Shares shall not entitle the holders thereof to receive notice of, attend or vote at any general meeting, or to vote on a written resolution, of the company. A dividend may be declared on the Ordinary A Shares independently of any dividend declared on the Ordinary B Shares.

20. Reserves

Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.

21. Analysis of changes in net debt

	At 1 Apr 2024	Cash flows	At 31 Mar 2025
	£	£	£
Cash at bank and in hand	7,839,660	(512,465)	7,327,195
	-----------	--------	-----------

22. Operating leases

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

	2025	2024
	£	£
Not later than 1 year	3,760	11,293
Later than 1 year and not later than 5 years	–	3,760
	------	-------
	3,760	15,053
	------	-------

The amount recognised in the profit and loss account as an expense in relation to operating leases was £11,293 (2024: £13,804).

23. Controlling party

The company is under the control of the Board of Directors: D J Clark , S Catton , D Silvester , N Peacock and R Tripp.