Poole Bay Holdings Management Limited

	Page
Strategic Report	1
Directors' Report	2
Independent Auditor's Report	3—5
Profit and Loss Account	6
Statement of Comprehensive Income	7
Balance Sheet	8
Statement of Changes in Equity	9
Statement of Cash Flows	10
Notes to the Statement of Cash Flows	11
Notes to the Financial Statements	12—19

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

Review of the Business

Turnover for the period to 31 March 2025 totalled £10,509,948 (2024 £9,849,041) which despite the fall maintains a healthy turnover.

The main financial KPI performance indicators that are used to monitor business performance are sales, gross profit margin and EBITDA.

The directors are fully satisfied with the results for the year against key performance indicators.

Principal Risks and Uncertainties

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

Foreign currency exchange

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

Liquidity and cashflow

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

Interest risk

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

Credit risk

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

On behalf of the board

Mr Martyn Bright

Director

23/12/2025

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Poole Bay Holdings Management Limited

Company No. 6404934

Directors' Report For The Year Ended 31 March 2025

Directors' Report

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

Principal Activity

The company's principal activity continues to be that of management and operational activities.

Directors

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

Mrs Fiona McKenna

Mrs Suzanne Bright

Mr Martyn Bright

Mr Hugh McKenna

Statement of Directors' Responsibilities

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company'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.

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

Statement of Disclosure of Information to Auditors

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

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

Independent Auditors

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

On behalf of the board

Mr Martyn Bright

Director

23/12/2025

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Independent Auditor's Report

to the Members of

Poole Bay Holdings Management Limited

Independent Auditor's Report

Opinion

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

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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 entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

Other Information

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

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

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

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

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Independent Auditor's Report (continued)

to the Members of

Poole Bay Holdings Management Limited

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

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2, 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.

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

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

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

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

Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

Performed analytical procedures to identify any unusual or unexpected relationships;

Tested journal entries to identify unusual transactions;Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; 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

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

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

...CONTINUED

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Independent Auditor's Report (continued)

to the Members of

Poole Bay Holdings Management Limited

Auditor's Responsibilities for the Audit of the Financial Statements - continued

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

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

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

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

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

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

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

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

Use Of Our Report

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

Martin Cox (Senior Statutory Auditor)

for and on behalf of mca Banbury Ltd , Statutory Auditor

23/12/2025

mca Banbury Ltd

Chartered Accountants and Registered Auditors

The American Barns, Banbury Road

Lighthorne, Warwick

Warwickshire

CV35 0AE

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Poole Bay Holdings Management Limited

Profit and Loss Account

For The Year Ended 31 March 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	10,509,948	9,849,041
Cost of sales		(19,491 )	(102,875 )

GROSS PROFIT		10,490,457	9,746,166

Administrative expenses		(10,816,032 )	(9,479,130 )
Other operating income		9,240	-

OPERATING (LOSS)/PROFIT	4	(316,335 )	267,036
Loss on disposal of fixed assets		(17,785 )	-
Other interest receivable and similar income	8	249,899	271,166
Interest payable and similar charges	9	32,688	-

(LOSS)/PROFIT BEFORE TAXATION		(51,533 )	538,202
Tax on (Loss)/profit	10	243,657	(26,449 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		192,124	511,753

The notes on pages 11 to 19 form part of these financial statements.

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Poole Bay Holdings Management Limited

Statement of Comprehensive Income

For The Year Ended 31 March 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	192,124	511,753
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	192,124	511,753

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Poole Bay Holdings Management Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

Registered number: 6404934

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	11		20,633		28,687
Tangible Assets	12		1,309,773		1,936,529

			1,330,406		1,965,216
CURRENT ASSETS
Debtors	13	18,408,251		19,462,278
Cash at bank and in hand		4,756,297		5,677,678

		23,164,548		25,139,956
Creditors: Amounts Falling Due Within One Year	14	(23,927,769 )		(26,400,507 )

NET CURRENT ASSETS (LIABILITIES)			(763,221 )		(1,260,551 )

TOTAL ASSETS LESS CURRENT LIABILITIES			567,185		704,665

PROVISIONS FOR LIABILITIES
Provisions For Charges	16		(155,900 )		(336,100 )
Deferred Taxation	15		(100,087 )		(249,491 )

NET ASSETS			311,198		119,074

CAPITAL AND RESERVES
Called up share capital	17		590		590
Profit and Loss Account			310,608		118,484

SHAREHOLDERS' FUNDS			311,198		119,074

On behalf of the board

Mr Martyn Bright

Director

23/12/2025

The notes on pages 11 to 19 form part of these financial statements.

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Poole Bay Holdings Management Limited

Statement of Changes in Equity

For The Year Ended 31 March 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 April 2023	590	977,801	978,391
Profit for the year and total comprehensive income	-	511,753	511,753

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

As at 31 March 2024 and 1 April 2024	590	118,484	119,074


Profit for the year and total comprehensive income	-	192,124	192,124

As at 31 March 2025	590	310,608	311,198

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Poole Bay Holdings Management Limited

Statement of Cash Flows

For The Year Ended 31 March 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash (used in)/generated from operations	1	(1,426,511 )	7,876,694
Interest refunded		32,688	-
Tax paid		(6,526 )	(175,075 )

Net cash (used in)/generated from operating activities		(1,400,349 )	7,701,619

Cash flows from investing activities
Purchase of tangible assets		(249,501 )	(851,272 )
Proceeds from disposal of tangible assets		535,284	(1 )
Grants received		9,240	-
Interest received		249,899	271,166

Net cash generated from/(used in) investing activities		544,922	(580,107 )

Cash flows from financing activities
Equity dividends paid		-	(1,371,070 )
Amount withdrawn by directors		(65,954)	(92,495)

Net cash used in financing activities		(65,954 )	(1,463,565 )



(Decrease)/increase in cash and cash equivalents		(921,381 )	5,657,947
Cash and cash equivalents at beginning of year	2	5,677,678	19,731

Cash and cash equivalents at end of year	2	4,756,297	5,677,678

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Poole Bay Holdings Management Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 March 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash (used in)/generated from operations

	2025	2024
	£	£
Profit for the financial year	192,124	511,753
Adjustments for:
Tax on profit	(243,657 )	26,449
Interest expense	(32,688 )	-
Interest income	(249,899 )	(271,166 )
Amortisation of intangible assets	8,054	8,055
Depreciation of tangible assets	323,188	496,090
Loss on disposal of tangible assets	17,785	-
Grant income	(9,240)	-
Movements in working capital:
Decrease/(increase) in trade and other debtors	1,122,606	(8,090,137 )
(Decrease)/increase in trade and other creditors	(2,554,784 )	15,195,650

Net cash (used in)/generated from operations	(1,426,511 )	7,876,694

2. Cash and cash equivalents

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

	2025	2024
	£	£
Cash at bank and in hand	4,756,297	5,677,678

3. Analysis of changes in net funds

	As at 1 April 2024	Cash flows	As at 31 March 2025
	£	£	£
Cash at bank and in hand	5,677,678	(921,381)	4,756,297

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Poole Bay Holdings Management Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Poole Bay Holdings Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 6404934 . The registered office is 1st Floor, Fleetsbridge House, Fleets Corner Business Park, Nuffield Road, Poole, Dorset, BH17 0LA.

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

All monetary amounts are rounded to the nearest pound.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

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

2.3. Turnover

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

Sale of goods

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

Rendering of services

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

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

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

2.5. Tangible Fixed Assets and Depreciation

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

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

2.6. Leasing and Hire Purchase Contracts

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

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

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Poole Bay Holdings Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Cash and Cash Equivalents

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

2.8. Financial Instruments

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

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

2.9. Foreign Currencies

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

2.10. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

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

2.11. Provisions and Contingencies

Provisions

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

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

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

Contingencies

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

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

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Poole Bay Holdings Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.12. Pensions

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

2.13. Research and Development

Expenditure on research and development is written off in the year in which it is incurred.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Management Charges	10,509,948	9,849,041

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	10,509,948	9,849,041

	10,509,948	9,849,041

4. Operating (Loss)/profit

The operating (loss)/profit is stated after charging:

	2025	2024
	£	£
Bad debts	14	-
Research and Development Costs	-	1,627
Operating lease rentals	-	545,459
Depreciation of tangible fixed assets	323,188	496,090
Amortisation of intangible fixed assets	8,055	8,055

5. Auditor's Remuneration

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

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	5,000	5,000


Other Services
Other non-audit services	2,500	2,500

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Poole Bay Holdings Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Staff Costs

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

	2025	2024
	£	£
Wages and salaries	6,030,503	5,731,841
Social security costs	610,450	525,919
Other pension costs	220,821	214,296

	6,861,774	6,472,056

7. Average Number of Employees

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

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

	231	212

8. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	211,401	265,370
Other interest receivable	38,498	5,796

	249,899	271,166

9. Interest Payable and Similar Charges

	2025	2024
	£	£
Foreign exchange charges	(32,688 )	-

10. Tax on Profit

	Tax Rate		2025	2024
The tax (credit)/charge on the (loss)/profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	5,948	32,200
Prior period adjustment			(100,201 )	(33,124 )

			(94,253 )	(924 )
Deferred Tax
Origination and reversal of timing differences			(149,404 )	27,373


Total tax charge for the period			(243,657 )	26,449

...CONTINUED

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Poole Bay Holdings Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

	2025	2024
The actual (credit)/charge for the year can be reconciled to the expected (credit)/charge for the year based on the (loss)/profit and the standard rate of corporation tax as follows:
	£	£
Profit before tax	(51,533)	538,202

Tax on profit at 25% (UK standard rate)	(15,193 )	134,551
Goodwill/depreciation not allowed for tax	2,014	2,014
Expenses not deductible for tax purposes	1,234	728
Tax losses utilised	(133,821 )	(77,720 )
Research and Development tax credit	2,310	-
Prior period adjustment	(100,201 )	(33,124 )

Total tax charge for the period	(243,657)	26,449

11. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	40,274

As at 31 March 2025	40,274

Amortisation
As at 1 April 2024	11,587
Provided during the period	8,054

As at 31 March 2025	19,641

Net Book Value
As at 31 March 2025	20,633

As at 1 April 2024	28,687

12. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost or Valuation
As at 1 April 2024	816,231	1,045,019	168,333	555,772
Additions	54,104	51,671	-	87,310
Disposals	(221,367 )	(725,154 )	(69,936 )	(122,954 )
Transfers	304,633	-	-	(270,699 )

As at 31 March 2025	953,601	371,536	98,397	249,429

Depreciation
As at 1 April 2024	285,651	426,642	96,216	220,650
Provided during the period	90,758	159,167	23,090	83,896

...CONTINUED

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Poole Bay Holdings Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Disposals	(93,774 )	(452,189 )	(64,105 )	(22,471 )
On revaluations	(35,113 )	4,275	(3,933 )	(120,515 )
Transfers	30,943	-	-	(24,237 )

As at 31 March 2025	278,465	137,895	51,268	137,323

Net Book Value
As at 31 March 2025	675,136	233,641	47,129	112,106

As at 1 April 2024	530,580	618,377	72,117	335,122


	Computer Equipment	Total
	£	£
Cost or Valuation
As at 1 April 2024	684,592	3,269,947
Additions	56,416	249,501
Disposals	(242,651 )	(1,382,062 )
Transfers	(33,934 )	-

As at 31 March 2025	464,423	2,137,386

Depreciation
As at 1 April 2024	304,259	1,333,418
Provided during the period	134,939	491,850
Disposals	(196,454 )	(828,993 )
On revaluations	(13,376 )	(168,662 )
Transfers	(6,706 )	-

As at 31 March 2025	222,662	827,613

Net Book Value
As at 31 March 2025	241,761	1,309,773

As at 1 April 2024	380,333	1,936,529

13. Debtors

	2025	2024
	£	£
Due within one year
Amounts owed by group undertakings	17,322,224	18,478,810
Other debtors	1,086,027	983,468

	18,408,251	19,462,278

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Poole Bay Holdings Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

14. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	303,346	604,077
Amounts owed to group undertakings	21,999,888	24,382,781
Other creditors	72,285	131,185
Corporation tax	-	32,200
Taxation and social security	496,721	313,928
Accruals and deferred income	1,055,529	936,336

	23,927,769	26,400,507

15. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	100,087	249,491

16. Provisions for Liabilities


	Deferred Tax	Other Provisions	Total
	£	£	£
As at 1 April 2024	249,491	336,100	585,591
Additions	-	150,890	150,890
Utilised	(152,696 )	(331,090 )	(483,786)

Balance at 31 March 2025	96,795	155,900	252,695

17. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	590	590

18. Other Commitments

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

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

	2,975,708	3,891,133

19. Pension Commitments

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

During the year the charge to the profit and loss account in respect of defined contribution schemes was £220,821 (2024: £214,296).

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

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Poole Bay Holdings Management Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

20. Related Party Disclosures

The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.

21. Controlling Parties

The company's ultimate controlling party is Poole Bay Holdings Ltd by virtue of its 100% ownership of the issued share capital. Its registered office is 1st Floor, Fleetsbridge House, Fleets Corner Business Park, Nuffield Road, Poole, Dorset, United Kingdom, BH17 0LA.

The highest level at which consolidated accounts are prepared and published is Poole Bay Holdings Ltd and these accounts are available from the company's registered office address.

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