REGISTERED NUMBER: 02783851 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

COMPUTER RISK MANAGEMENT LTD

Page

Company Information

1

Strategic Report

2

to

3

Report of the Directors

4

to

5

Report of the Independent Auditors

6

to

9

Statement of Income and Retained Earnings

10

Balance Sheet

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

to

14

Notes to the Financial Statements

15

to

23

DIRECTORS:

Mr G L Vickers

Mr J R Kight

Mrs S L Kight

Mrs S Vickers

SECRETARY:

Mr G L Vickers

REGISTERED OFFICE:

6 Edward Court

Altrincham Business Park

Altrincham

Cheshire

WA14 5GL

REGISTERED NUMBER:

02783851 (England and Wales)

AUDITORS:

C. Wilkinson & Co.

Chartered Accountants and Statutory Auditors

Britannic House

657 Liverpool Road

Irlam

Manchester

Greater Manchester

M44 5XD

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

The companies principal activity remained that of the supply of computer hardware, consumables and equipment.

The director's are satisfied with the trading performance of the company during the year. The level of profitability recorded in the year was driven by a consolidation of sales turnover as a result of continued and improving e commerce presence in the market.

REVIEW OF BUSINESS

Key performance indicators are considered to be those that communicate the financial performance of the company as a whole, being sales and gross profit.

As a result of its activities the directors report that sales turnover decreased by 12.09% to £45,640,569 from £51,156,747.

The cash position of the Company was slightly reduced to £10,749,555 (2024 : £12,331,903).

The Company generated EBITDA for the year of negative (£3,814,883) (2024 :positive £4,946,986) this was mainly due to the directors taking their remuneration package via salary rather than dividend. During the year, there was an increase in the amount of interest received to £423,342 (2024 : £360,635).

The directors believe that EBITDA is a representative measure of the underlying business performance as it excludes non-cash items such as depreciation and amortisation and any impairments which are non trading in nature, however a significant figure was provided by way of bonus payments in the accounts.

Whilst the Company recognises a number of external challenges on the horizon, it remains committed to improving operational effectiveness and improving links for all its stakeholders.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risk and uncertainty to the business arises from the prevailing economic conditions. To mitigate the impact on sales the company continues to develop its links with the manufacturers to ensure the new products and ranges are available to its customers on a timely basis. It continues to hold a stock level it feels necessary to provide the speed of service expected by its customers.

The company's operations expose it to a variety of financial risks that include the effects of changes in debt, market prices, credit risk, liquidity risk and foreign exchange risk. The company has a risk management programme that seeks to limit the adverse effects on the financial performance of the company. The company has implemented policies that require appropriate credit checks before a sale is made. The company manages its cash requirements in order to maximise interest income while ensuring the company has significant liquid resources to meet the operating needs of the business.

SECTION 172(1) STATEMENT

Under section 172 of the Companies Act 2006, the directors have a duty to promote the success of the Company for the benefit of its members as a whole. This includes having due regard to the broad range of stakeholders of the company, including its customers, suppliers workforce, shareholders and its impact on the wider community and environment.

The Company's board is made up of its directors, who together are responsible for setting the strategy of managing the Company, in line with its normal corporate governance.

The directors ensure that they comply with Company policies and maintain high standards of governance and business conduct. The Company engages with its shareholders on decisions related to management, strategy and governance of the Company.

Employee interests

The Company recognises that the engagement of all colleagues is key to the future development of a successful and profitable business. Regular communication with colleagues throughout the business is key to developing an effective business culture. Regular face to face meetings with the directors ensure colleagues understand company performance, the challenges and opportunities facing the Company and communicate direction, strategy and objectives.

Customer and supplier relationships

The Company builds strong relationships with its customers and suppliers. Considerable time is spent with each of the parties to understand their needs and how to solidify and improve service.

The Company builds strong relationships with its suppliers and manufacturers to build long lasting partnerships. The Company recognises that these parties are important in building the company's long term success and are briefed on a regular basis.

Environmental and community impact

The Company takes care in their commitment to environmental responsibility. They operate solely from our office with minimal stock held on the premises and operate only electric vehicles.

They actively pursue sustainable practices to minimize our ecological footprint. By embracing energy-efficient technologies, where possible, reducing waste, and promoting eco-friendly office habits, the Company strive to contribute positively to the environment while maintaining a low impact on our surroundings.

ON BEHALF OF THE BOARD:

Mr G L Vickers - Secretary

24 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of supply of computer hardware, consumables and equipment.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2025 will be £ 4,756 .

DIRECTORS

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

Other changes in directors holding office are as follows:

Mrs S Vickers was appointed as a director after 31 March 2025 but prior to the date of this report.

The beneficial interests of the directors holding office at 31 March 2025 in the shares of the company, according to the register of directors' interests, were as follows:

31.3.25

1.4.24

Ordinary 'A' shares of £1 each

Mr G L Vickers

50

50

Mr J R Kight

50

50

Mrs S L Kight

-

-

Ordinary 'B' shares of £1 each

Mr G L Vickers

-

-

Mr J R Kight

-

-

Mrs S L Kight

2

2

These directors did not hold any non-beneficial interests in any of the shares of the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of 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 judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's 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 AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, C. Wilkinson & Co., will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr G L Vickers - Secretary

24 December 2025

Opinion

We have audited the financial statements of Computer Risk Management Ltd (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

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

-	adequate accounting records have not been kept, 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 Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditors' responsibilities for the audit of the financial statements

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

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

As part of an audit in accordance with ISAs (UK), the auditor exercises professional judgment and maintains professional skepticism throughout the audit.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- 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 identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental (including Waste Electrical and Electronic Equipment recycling (WEEE) Regulations 2013) and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

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

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and 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; and

- investigated 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;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors where applicable.

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 and the inspection of regulatory and legal correspondence, if any.

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.

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

Use of our report

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

Colin Wilkinson (Senior Statutory Auditor)

for and on behalf of C. Wilkinson & Co.

Chartered Accountants and Statutory Auditors

Britannic House

657 Liverpool Road

Irlam

Manchester

Greater Manchester

M44 5XD

24 December 2025

TURNOVER

3

45,640,569

51,156,747

Cost of sales

(35,831,321

)

(40,269,603

)

GROSS PROFIT

9,809,248

10,887,144

Administrative expenses

(13,952,686

)

(6,021,232

)

OPERATING (LOSS)/PROFIT

6

(4,143,438

)

4,865,912

Income from fixed asset investments

7

39,571

-

Interest receivable and similar income

8

423,342

360,635

(3,680,525

)

5,226,547

Gain/loss on revaluation of investments

121,445

-

(3,559,080

)

5,226,547

Interest payable and similar expenses

9

(2,389

)

-

(LOSS)/PROFIT BEFORE TAXATION

(3,561,469

)

5,226,547

Tax on (loss)/profit

10

886,347

(1,320,587

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(2,675,122

)

3,905,960

Retained earnings at beginning of year

11,092,118

10,047,263

Dividends

11

(4,756

)

(2,861,105

)

RETAINED EARNINGS AT END OF YEAR

8,412,240

11,092,118

FIXED ASSETS

Intangible assets

12

1

1

Tangible assets

13

750,183

698,460

Investments

14

2,706,099

9

3,456,283

698,470

CURRENT ASSETS

Stocks

15

3,848,972

6,275,755

Debtors

16

1,942,091

766,893

Prepayments and accrued income

1,236,297

662,979

Cash at bank and in hand

10,749,555

12,331,903

17,776,915

20,037,530

CREDITORS

Amounts falling due within one year

17

(12,632,000

)

(9,587,692

)

NET CURRENT ASSETS

5,144,915

10,449,838

TOTAL ASSETS LESS CURRENT LIABILITIES

8,601,198

11,148,308

CREDITORS

Amounts falling due after more than one year

18

(85,937

)

-

PROVISIONS FOR LIABILITIES

22

(102,917

)

(56,086

)

NET ASSETS

8,412,344

11,092,222

CAPITAL AND RESERVES

Called up share capital

23

104

104

Retained earnings

24

8,412,240

11,092,118

SHAREHOLDERS' FUNDS

8,412,344

11,092,222

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2025 and were signed on its behalf by:

Mr G L Vickers - Director

Mr J R Kight - Director

Cash flows from operating activities

Cash generated from operations

1

54,497

4,388,482

Interest element of hire purchase payments paid

(2,389

)

-

Tax paid

508,272

(1,464,203

)

Net cash from operating activities

560,380

2,924,279

Cash flows from investing activities

Purchase of tangible fixed assets

(139,774

)

(55,283

)

Purchase of fixed asset investments

(2,584,654

)

-

Sale of fixed asset investments

9

-

Interest received

423,342

360,637

Dividends received

39,571

-

Net cash from investing activities

(2,261,506

)

305,354

Cash flows from financing activities

Capital repayments in year

108,216

-

Amount introduced by directors

18,300

-

Amount withdrawn by directors

-

(11,379

)

Equity dividends paid

(4,756

)

(2,861,105

)

Net cash from financing activities

121,760

(2,872,484

)

(Decrease)/increase in cash and cash equivalents

(1,579,366

)

357,149

Cash and cash equivalents at beginning of year

2

12,322,019

11,964,870

Cash and cash equivalents at end of year

2

10,742,653

12,322,019

1.	RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.3.25

31.3.24

£

£

(Loss)/profit before taxation

(3,561,469

)

5,226,547

Depreciation charges

88,054

81,074

Gain on revaluation of fixed assets

(121,445

)

-

Finance costs

2,389

-

Finance income

(462,913

)

(360,635

)

(4,055,384

)

4,946,986

Decrease/(increase) in stocks

2,426,783

(334,134

)

(Increase)/decrease in trade and other debtors

(1,748,516

)

683,862

Increase/(decrease) in trade and other creditors

3,431,614

(908,232

)

Cash generated from operations

54,497

4,388,482

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

10,749,555

12,331,903

Bank overdrafts

(6,902

)

(9,884

)

10,742,653

12,322,019

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

12,331,903

11,969,121

Bank overdrafts

(9,884

)

(4,251

)

12,322,019

11,964,870

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

12,331,903

(1,582,348

)

10,749,555

Bank overdrafts

(9,884

)

2,982

(6,902

)

12,322,019

(1,579,366

)

10,742,653

Debt

Finance leases

-

(108,216

)

(108,216

)

-

(108,216

)

(108,216

)

Total

12,322,019

(1,687,582

)

10,634,437

1.	STATUTORY INFORMATION

Computer Risk Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about Computer Risk Management Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company has taken the option under Section 402 of the Companies Act not to prepare consolidated financial statements as the subsidiary is individually and collectively immaterial.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on managements best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.

The estimates and assumptions which have a significant risk of causing material adjustment to the carrying of assets and liabilities are :

Making judgement based on historical experience on the level of provision required for impairment of stock, the carrying values of stock and the level of rebates held back of goods not sold.

Estimating the useful economic life of an asset and the anticipated residual value are considered key judgement in calculating an appropriate depreciation charge.

Making judgement based on historical on the level of provision of bad debts.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes. Revenue is recognised as follows:-

Sale of goods

Sale of goods are recognised when the Company despatches the products to the customer and collectability of the related receivables is fairly stated.

Sales rebates

Sales rebates are recognised when the Company has purchased and sold, pre agreed requirements with the manufactures and collectability of the related receivables is fairly stated.

Website and software costs

Amortisation is provided for on Website and software costs in order to write off the asset over its estimated life of 5 years on a straight line basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Financial instruments

The company enters into basic financial instruments transactions and investments that result in he recognition of financial assets and liabilities like listed investments, trade and other debtors and creditors, loans from banks and other parties and loans to and from related parties.

Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If evidence of impairment is found, an impairment loss is recognised in the income statement.

Listed investments are measured at fair value with changes recognised in the profit and loss.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less and amounts settled.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Foreign currencies

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

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

Fixed asset investments

Listed investments held as fixed assets are shown at market value. Investments in Subsidiary undertakings are shown as the lower of cost or net realisable value.

Supplier rebates

Purchase rebates are recognised when the Company has purchased pre agreed requirements with its suppliers and these are offset against purchases within the financial statements.

3.

TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

31.3.25

31.3.24

£

£

United Kingdom

45,344,583

51,003,598

Rest of the world

295,986

153,149

45,640,569

51,156,747

4.	EMPLOYEES AND DIRECTORS

31.3.25

31.3.24

£

£

Wages and salaries

8,830,384

2,219,195

Social security costs

1,452,798

216,472

Other pension costs

143,106

103,553

10,426,288

2,539,220

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

31.3.25

31.3.24

Directors

3

3

Sales and marketing

26

27

Finance and administration

4

4

33

34

5.	DIRECTORS' EMOLUMENTS

31.3.25

31.3.24

£

£

Directors' remuneration

7,027,928

422,761

Directors' pension contributions to money purchase schemes

120,000

80,000

Information regarding the highest paid director is as follows:

31.3.25

31.3.24

£

£

Emoluments etc

3,774,498

212,174

Pension contributions to money purchase schemes

60,000

40,000

6.	OPERATING (LOSS)/PROFIT

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

31.3.25

31.3.24

£

£

Depreciation - owned assets

71,490

81,076

Depreciation - assets on hire purchase contracts

16,561

-

Auditors' remuneration

8,700

8,700

7.

INCOME FROM FIXED ASSET INVESTMENTS

31.3.25

31.3.24

£

£

Other fixed asset invest - FII

39,571

-

8.

INTEREST RECEIVABLE AND SIMILAR INCOME

31.3.25

31.3.24

£

£

Deposit account interest

423,342

360,635

9.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.25

31.3.24

£

£

Hire purchase

2,389

-

10.

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/charge on the loss for the year was as follows:

31.3.25

31.3.24

£

£

Current tax:

UK corporation tax

(933,178

)

1,323,495

Deferred tax

46,831

(2,908

)

Tax on (loss)/profit

(886,347

)

1,320,587

UK corporation tax has been charged at 25% (2024 - 25%).