REGISTERED NUMBER: 07952926 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Period 1 March 2024 to 31 March 2025

for

PENNY PETROLEUM (NORTH EAST) LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

7

Report of the Independent Auditors

10

Consolidated Income Statement

15

Consolidated Other Comprehensive Income

16

Consolidated Statement of Financial Position

17

Company Statement of Financial Position

18

Consolidated Statement of Changes in Equity

19

Company Statement of Changes in Equity

20

Consolidated Statement of Cash Flows

21

Notes to the Consolidated Statement of Cash Flows

22

Notes to the Consolidated Financial Statements

24

DIRECTORS:

D S Penny

A L Penny

REGISTERED OFFICE:

The Station House

Powburn

Northumberland

NE66 4HU

REGISTERED NUMBER:

07952926 (England and Wales)

SENIOR STATUTORY AUDITOR:

John Kyriacos Pittalis FCA

AUDITORS:

K J Pittalis and Partners LLP

Chartered Certified Accountants

Statutory Auditor

Global House

303 Ballards Lane

London

N12 8NP

The directors present their strategic report for the 13-month period ended 31 March 2025. The prior year

covered 12 months to 29 February 2024, and this difference should be considered when comparing results.

REVIEW OF BUSINESS

The principal activity of the group continues to be the operation of service stations providing fuel and convenience goods across the UK. Prestige Car Direct Properties 2 Ltd is a dormant company holding freehold property, serving as a supporting entity within the group structure.

Trading conditions remained competitive, with ongoing pressure from fuel price volatility and evolving consumer preferences. Management focused on maintaining forecourt standards, rationalising ranges by site, and expanding ancillary services to support non-fuel margin.

RESULTS AND PERFORMANCE

The results for the year, as set out on pages 13-18, show a profit before tax of £1,106,734 (2024 : £1,662,150), which exceeded management's original expectations. Continued investment in new sites, people, and processes is continuing to deliver tangible benefits, reaffirming that decisions taken in prior years were sound. Despite operating in a challenging economic environment, the group remains focused on profitable growth and is confident that this strategy will support an upward trend in net profitability over the next three years.

This was another year of progress for the business. Key appointments have settled and are making positive contributions, while core staff have been retained. Additional services are generating meaningful margin improvements. Sites continue to be refurbished to enhance the customer experience, and forecourt teams are undergoing training to strengthen customer engagement.

During the period, turnover increased by 3.51% compared with the previous 12-month year; however, this increase reflects the extended 13-month reporting period. On a pro rated basis, underlying revenue would have been lower than the prior year, primarily due to reduced average pump prices and softer fuel demand nationally. Operating profit declined in absolute terms, and the operating margin fell from 4.39% to 3.24%, driven by higher operating costs, increased depreciation following recent investment, and the impact of the longer reporting period.

As at 31 March 2025 the Shareholders' Funds totalled £10,001,278 (2024: £9,245,709).

TRADING ENVIRONMENT

Despite strong trading during 2024/25 the Directors remain cautious. The UK market for motor fuels and convenience store items is highly competitive. The Directors are continuously monitoring the market and environment to identify further opportunities and are optimistic about the future growth in the short to medium term.

It is the overall fuel market which drives sales. The move to cleaner energy sources and the ever increasing fuel costs represent the greatest risk to the company. The Directors and management continuously monitor performance on a weekly basis to enable a proactive approach to managing the risks the Company faces.

STRATEGY

The group remains focused on achieving sustainable growth through:

Expanding the network of service stations and improving customer offerings.

Exploring additional revenue streams, such as renewable energy initiatives at retail sites. Leveraging the freehold property held by the subsidiary to support future operational needs or investment opportunities.

While economic uncertainties and market volatility remain, the group is well-positioned to adapt and thrive, supported by its strong operational base and strategic planning.

PRINCIPAL RISKS AND UNCERTAINTIES

The group operates in a dynamic environment and is subject to various risks, including:

-

Market Risk: Fluctuations in fuel prices and consumer demand may impact turnover.

-

Regulatory Risk: Compliance with environmental and trading standards is a priority, with potential costs associated with non-compliance.

-

Operational Risk: Maintaining uninterrupted fuel supply chains and managing property assets effectively are critical to operations.

The group has established risk management frameworks to monitor and mitigate these risks proactively.

KEY PERFORMANCE INDICATORS (KPI)

The following KPIs are used to monitor the efficiency and profitability of the business and to optimise working capital.

2025

2024

Turnover

£40.6m

£39.2m

Gross profit margin

14.2%

13.4%

Operating (loss)/profit

£1.3m

£1.7m

Operating profit margin

3.2%

4.4%

Inventory turnover ratio

43x

45x

INCORPORATING KPIs INTO STRATEGY

These KPIs are regularly reviewed by the board to ensure alignment with the group's goals and to track progress on financial stability, operational efficiency, and customer and employee satisfaction. Targets for future performance will focus on maintaining profitability while advancing sustainability and operational expansion.

SUBSIDIARY

During 2023, the company has acquired 100% share capital of Prestige Car Direct Properties 2 Ltd.

FUTURE DEVELOPMENTS

The UK economy currently faces challenges, with ongoing uncertainties likely to persist. High interest rates are expected to remain a feature of the economic landscape for the foreseeable future, with some analysts predicting further increases.

At the same time, there is a growing awareness of the environmental impact of fossil fuels, accompanied by a significant shift toward renewable energy sources. In response to this trend, the group is closely monitoring developments in the energy sector and exploring opportunities to diversify its operations.

Management is actively evaluating alternative revenue streams, including the potential for electric vehicle charging forecourts, biodiesel, and hydrogen fueling stations. These initiatives are part of the group’s strategy to align with the ongoing energy transition, reduce its environmental footprint, and position the business for long-term sustainable growth.

SECTION 172(1) STATEMENT

In accordance with Section 172(1) of the Companies Act 2006, the directors of Penny Petroleum (North East) Ltd are committed to acting in the best interests of the company, ensuring the long-term success of the business, and considering the impact of decisions on various stakeholders, including employees, customers, suppliers, and the wider community.

The directors have had regard to the following key aspects when making decisions throughout the year:

1. Fostering Business Relationships with Suppliers and Customers

The directors recognise the importance of maintaining strong, long-term relationships with suppliers and customers to ensure the continued success and sustainability of the business. The group continues to engage with key suppliers and customers regularly, ensuring that:

-

Meeting customer expectations by providing high-quality service and value

-

Building and maintaining positive relationships with suppliers to ensure reliability and competitive pricing, particularly for essential fuels and related products.

The business has open communication channels with its suppliers and customers, seeking to understand and address their needs, and ensure mutual benefit. The directors believe that these relationships are vital in maintaining a competitive edge and ensuring the growth of the business.

2. Impact on Employees

The directors understand that employees are a key asset in driving the success of the company. The directors have ensured that decisions are made with consideration of the well-being and development of employees, offering training, promoting a safe working environment, and encouraging diversity and inclusion within the workplace.

3. Maintaining High Standards of Business Conduct

The company is committed to maintaining high standards of ethical conduct and corporate governance. Directors make decisions that uphold the group's reputation for integrity, transparency, and responsible business practices. This includes compliance with relevant regulations, as well as ensuring that the business contributes positively to the communities in which it operates.

4. Considering the Impact on the Community and Environment

In making decisions, the directors consider the environmental and social impact of the company's operations. The group actively works to minimize its environmental footprint and is committed to sustainable practices, such as energy efficiency initiatives and contributing to local community efforts.

5. Long-Term Strategic Goals

The directors have ensured that decisions are made with a focus on the long-term growth and sustainability of the company. This includes investing in infrastructure, expanding the service station network, exploring new business opportunities, and considering renewable energy alternatives to enhance long-term profitability.

ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG)

The Penny Petroleum Group is committed to embedding ESG principles into its operations to ensure long-term sustainability and positive societal impact.

Environmental

Energy Efficiency

Implementing energy-saving measures at service stations, such as LED lighting and optimised fuel storage solutions.

Renewable Energy

Exploring the installation of electric vehicle (EV) charging points and solar panels at key locations.

Carbon Footprint Reduction

Reviewing logistics and supply chain operations to minimize emissions.

Social

Community Engagement

Supporting local initiatives and charities, fostering strong relationships with the communities we serve.

Employee Well-Being

Providing training programs, fostering diversity, and ensuring a safe and inclusive workplace environment.

Customer Experience

Continuously enhancing service quality to meet and exceed customer expectations.

Governance

Compliance and Ethics

Adhering to stringent corporate governance standards, ensuring transparency and accountability.

Board Oversight

The board actively oversees strategic decisions, including ESG initiatives, ensuring alignment with group objectives.

Data Protection

Safeguarding customer and employee data in compliance with GDPR and other relevant regulations.

The group views ESG as a critical driver of long-term success and is committed to continuously improving its impact in these areas.

FUTURE DEVELOPMENTS

The UK economy seems precarious at present, and likely to remain so after the country recovers from the impact of the Covid-19 pandemic. Interest rates look set to remain high for the foreseeable future, with further rises predicted by some commentators.

As people continue to understand the environmental impact of fossil fuels and the expanding availability of other cleaner energy sources, there has been a general shift to renewable energy sources. Management are monitoring this trend and are looking into other opportunities to support alternative revenue streams such as electric forecourts, biodiesel and hydrogen fuelling stations.

ON BEHALF OF THE BOARD:

D S Penny - Director

24 December 2025

The directors present their report with the financial statements of the company and the group for the period 1 March 2024 to 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the group during the year was the operation of fuel retailing services, primarily through service stations and convenience outlets. The group also holds freehold property through its subsidiary, Prestige Car Direct Properties 2 Ltd, which is a dormant company.

DIVIDENDS

No dividends will be distributed for the period ended 31 March 2025.

RESEARCH AND DEVELOPMENT

The group does not undertake formal research and development activities in the traditional sense. However, management continues to invest time and resources into reviewing new technologies, operational processes and customer-facing innovations that support the long-term development of the business.

During the period, the group assessed emerging forecourt technologies, including electric vehicle charging solutions, alternative fuel options and improved point-of-sale and stock-management systems. The group also reviewed developments in shop layout optimisation, customer flow, and digital engagement tools used within the wider convenience retail sector. While these activities do not meet the criteria for capitalisation under applicable accounting standards, they form an important part of the group’s ongoing efforts to enhance operational efficiency, improve customer experience and identify opportunities for future revenue growth.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 March 2024 to the date of this report.

D S Penny

A L Penny

FINANCIAL INSTRUMENTS

The group's activities give rise to multiple financial risks, including the price risk, credit risk, liquidity risk and Cashflow risk. The essential risk management policies are determined by the group and applied by the group's corporate treasury department.

The most significant financial risks to which the group is exposed are described below:

Price Risks

The group is exposed to price risk arising from fluctuations in fuel purchase costs and retail selling prices. Global oil market volatility, changes in wholesale pricing, and competitive pressures can impact margins. To mitigate this risk, the group monitors market trends closely and adjusts retail pricing strategies where commercially viable. Supplier agreements are reviewed periodically to ensure competitive terms.

Liquidity Risks

Liquidity risk is related to the group's need for sufficient financing of its operations and development.

The relevant liquidity risks are the subject of management through the meticulous monitoring of debts, financial liabilities and payments made on a regular basis.

The group ensures that there are sufficient available credit facilities to be able to cover its short-term business needs, after the calculation of cash flows arising from operations as well as cash and cash equivalents which are held. The group can rely on other group companies and associated companies for long-term liquidity.

Credit Risks

The group does not exhibit any considerable concentration of credit risk to any one customer. Credit risk originates from available cash and cash equivalents, deposits with banks and financial institutions and clients with respect to trade receivables.

To minimise credit risk on cash reserves and cash equivalents, the group specifies certain limits to its exposure on each individual financial institutions and only engages in transactions with creditworthy financial institutions of high credit rating.

Cashflow Risks

Cash flow risk primarily relates to the timing of fuel purchases and customer receipts. The business operates in a high-volume, low-margin environment, which requires careful liquidity management. The group maintains robust cash flow forecasting and monitors working capital requirements to ensure sufficient funds are available to meet operational and capital commitments.

Interest Rate Risks

The group borrows from its bankers using either overdrafts or term loans whose tenure depends on the nature of the asset and management’s view of the future direction of interest rate.

DISCLOSURE 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 Large and Medium-sized Companies and Groups (accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of principal risks and uncertainties and future developments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing 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;

-	state whether applicable accounting standards 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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 group'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 group's auditors are aware of that information.

AUDITORS

The auditors, K J Pittalis and Partners LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D S Penny - Director

24 December 2025

Opinion

We have audited the financial statements of Penny Petroleum (North East) Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 March 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 group's and of the parent company affairs as at 31 March 2025 and of the group's profit for the period 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent 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 Group 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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records 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 eight, 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

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:

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.

We considered the nature of the Company's industry and its control environment and reviewed the Company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We enquired of management about their own identification and assessment of the risks of fraud and irregularities.

We obtained an understanding of the legal and regulatory framework that the Company operates in and identified the key laws and regulations that:

-

Had a direct effect on the determination of the material amounts and disclosures in the financial statements. These included UK Companies Act, pensions legislation, tax legislation, financial conduct authority regulations; and

-

Do not have a direct effect on the financial statements, but compliance with which may be fundamental to the Company's ability to operate or to avoid a material penalty.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the organisation for fraud, and how and where fraud might occur in the financial statements.

In common with all audits under the ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments: assessed whether the judgements made in making accounting estimates are indicative of a potential bias: and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

-

Reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having direct effect on the financial statements;

-

Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-

Enquiring of management, concerning actual and potential litigation and claims, and instances of non­compliance with laws and regulations; and

-

Reading minutes of meetings of those charged with governance.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment 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 controls 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 of the effectiveness of the Company's internal control;

-

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related party 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 Auditors' report 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 Auditors' report. 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 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.

John Kyriacos Pittalis FCA (Senior Statutory Auditor)

for and on behalf of K J Pittalis and Partners LLP

Chartered Certified Accountants

Statutory Auditor

Global House

303 Ballards Lane

London

N12 8NP

24 December 2025

TURNOVER

40,601,416

39,224,237

Cost of sales

34,839,348

33,975,961

GROSS PROFIT

5,762,068

5,248,276

Administrative expenses

4,446,461

3,532,681

OPERATING PROFIT

4

1,315,607

1,715,595

Interest payable and similar expenses

5

208,873

53,445

PROFIT BEFORE TAXATION

1,106,734

1,662,150

Tax on profit

6

356,679

439,834

PROFIT FOR THE FINANCIAL PERIOD

750,055

1,222,316

Profit attributable to:

Owners of the parent

750,055

1,222,316

PROFIT FOR THE PERIOD

750,055

1,222,316

OTHER COMPREHENSIVE INCOME

Revaluation reserve

-

4,530,708

Freehold depreciation on revaluation

108,022

-

Income tax relating to components of other comprehensive income

(102,508

)

(1,132,677

)

OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF INCOME TAX

5,514

3,398,031

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

755,569

4,620,347

Total comprehensive income attributable to:

Owners of the parent

755,569

4,620,347

FIXED ASSETS

Intangible assets

8

360,428

443,971

Tangible assets

9

14,160,188

14,265,151

Investments

10

-

-

14,520,616

14,709,122

CURRENT ASSETS

Stocks

11

784,974

823,190

Debtors

12

3,278,927

2,987,811

Cash at bank and in hand

464,016

940,437

4,527,917

4,751,438

CREDITORS

Amounts falling due within one year

13

4,991,719

7,769,450

NET CURRENT LIABILITIES

(463,802

)

(3,018,012

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,056,814

11,691,110

CREDITORS

Amounts falling due after more than one year

14

(2,431,615

)

(798,287

)

PROVISIONS FOR LIABILITIES

18

(1,623,921

)

(1,647,114

)

NET ASSETS

10,001,278

9,245,709

CAPITAL AND RESERVES

Called up share capital

19

100

100

Revaluation reserve

20

4,877,425

4,979,933

Retained earnings

20

5,123,753

4,265,676

SHAREHOLDERS' FUNDS

10,001,278

9,245,709

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:

D S Penny - Director

FIXED ASSETS

Intangible assets

8

311,732

388,611

Tangible assets

9

10,225,188

10,265,151

Investments

10

4,061,511

4,061,511

14,598,431

14,715,273

CURRENT ASSETS

Stocks

11

784,974

823,190

Debtors

12

3,278,927

2,987,811

Cash at bank and in hand

464,016

940,437

4,527,917

4,751,438

CREDITORS

Amounts falling due within one year

13

4,991,720

7,769,450

NET CURRENT LIABILITIES

(463,803

)

(3,018,012

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,134,628

11,697,261

CREDITORS

Amounts falling due after more than one year

14

(2,431,615

)

(798,287

)

PROVISIONS FOR LIABILITIES

18

(1,623,921

)

(1,647,114

)

NET ASSETS

10,079,092

9,251,860

CAPITAL AND RESERVES

Called up share capital

19

100

100

Revaluation reserve

4,877,425

4,979,933

Retained earnings

5,201,567

4,271,827

SHAREHOLDERS' FUNDS

10,079,092

9,251,860

Company's profit for the financial year

821,718

1,228,467

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:

D S Penny - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 March 2023

100

3,043,360

1,581,902

4,625,362

Changes in equity

Total comprehensive income

-

1,222,316

3,398,031

4,620,347

Balance at 29 February 2024

100

4,265,676

4,979,933

9,245,709

Changes in equity

Total comprehensive income

-

858,077

(102,508

)

755,569

Balance at 31 March 2025

100

5,123,753

4,877,425

10,001,278

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 March 2023

100

3,043,360

1,581,902

4,625,362

Changes in equity

Total comprehensive income

-

1,228,467

3,398,031

4,626,498

Balance at 29 February 2024

100

4,271,827

4,979,933

9,251,860

Changes in equity

Total comprehensive income

-

929,740

(102,508

)

827,232

Balance at 31 March 2025

100

5,201,567

4,877,425

10,079,092

Cash flows from operating activities

Cash generated from operations

1

1,168,995

1,771,927

Interest paid

(208,873

)

(53,445

)

Tax paid

(638,518

)

(409,214

)

Net cash from operating activities

321,604

1,309,268

Cash flows from investing activities

Purchase of intangible fixed assets

-

(50,000

)

Purchase of tangible fixed assets

(314,097

)

(499,972

)

Net cash from investing activities

(314,097

)

(549,972

)

Cash flows from financing activities

New loans in year

2,635,719

-

Loan repayments in year

(1,272,000

)

(227,204

)

Movement in related entity debtors

(340,408

)

(455,000

)

Movement in related entity creditors

(1,450,871

)

(345,000

)

Capital repayments in year

(56,368

)

(44,712

)

Net cash from financing activities

(483,928

)

(1,071,916

)

Decrease in cash and cash equivalents

(476,421

)

(312,620

)

Cash and cash equivalents at beginning of period

2

940,437

1,253,057

Cash and cash equivalents at end of period

2

464,016

940,437