REGISTERED NUMBER: 08741619 (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 (TOPSPOT) LTD

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

7

Consolidated Income Statement

11

Consolidated Other Comprehensive Income

12

Consolidated Statement of Financial Position

13

Company Statement of Financial Position

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Statement of Cash Flows

17

Notes to the Consolidated Statement of Cash Flows

18

Notes to the Consolidated Financial Statements

19

DIRECTORS:

D S Penny

A L Penny

REGISTERED OFFICE:

Old Station House

Powburn

Northumberland

NE66 4HU

REGISTERED NUMBER:

08741619 (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 principle activity of the group was that of service stations providing fuel and other goods/services including the provision of car wash services. The principle market is the UK.

Trading conditions remained competitive, with ongoing pressure from fuel and utility 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 11-17, show a profit before tax of £460,391 (2024: £567,959), 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 1.8% 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 3.26% to 2.27%, 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 £5,960,484 (2024: £5,664,514).

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 group. The directors and management continuously monitor performance on a weekly basis to enable a proactive approach to managing the risks the company faces.

The trading environment for the car wash industry continues to evolve, influenced by a combination of market trends and external factors. Demand for car wash services has remained steady, driven by growing consumer preference for convenience and professional maintenance solutions. However, challenges such as fluctuating increased operational costs and changing weather patterns have impacted customer behaviour and overall business dynamics. Competition remains strong, with both established businesses and emerging operators vying for market share. To remain competitive, the group has focused on delivering exceptional service quality, adopting eco-friendly practices, and leveraging technology to enhance efficiency and customer engagement.

STRATEGY

The group strategy remains that of identifying petrol stations that management feels are undervalued, revamping existing sites to improve shoppers store experience and optimising the goods and services that are sold at each site based on the needs of local residents. Growth will be carefully managed so as not to place too heavy a burden on the existing resources at a time when they are engaged in additional tasks.

PRINCIPAL RISKS AND UNCERTAINTIES

The general move to cleaner energy sources will always be a risk to the group. This is further exacerbated by increased fuel costs which may push some customers to other modes of transport, including electric vehicles. Despite this, the market is extremely large and the group has continued to find opportunities to grow regardless of the wider market.

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

£29m

£28.5m

Gross profit margin

16.52%

14.32%

Operating profit

£0.7m

£0.9m

Operating profit margin

2.27%

3.26%

Inventory turnover ratio

30x

34x

FUTURE DEVELOPMENTS

The UK economy remained subdued throughout 2024/25, with growth remaining weak and inflation easing only gradually. Although interest rates have begun to fall from their peak, they remain elevated compared with historic norms and are expected to stay relatively high in the near term. This environment continues to place pressure on both consumers and businesses, and the outlook for the coming year remains uncertain.

As awareness of the environmental impact of fossil fuels continues to grow, and as cleaner energy technologies become more widely available, the long-term shift towards renewable and lower-carbon energy sources has continued. Management is monitoring these developments closely and is assessing opportunities to diversify revenue streams, including the potential for electric vehicle charging infrastructure, biodiesel and hydrogen fuelling solutions, and other services that support the evolving needs of customers and local communities.

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 in the period under review was that of service stations providing fuel and other goods and services.

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, utility prices and retail selling prices. Global oil and utility 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;

-	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 (Topspot) Ltd (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 five, 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.

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 ofnon­compliance 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, is representations, 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

29,047,151

28,534,284

Cost of sales

24,247,345

24,447,001

GROSS PROFIT

4,799,806

4,087,283

Administrative expenses

4,147,935

3,163,549

651,871

923,734

Other operating income

6,875

7,500

OPERATING PROFIT

5

658,746

931,234

Exceptional items

6

-

188,686

658,746

742,548

Interest receivable and similar income

9,639

6,965

668,385

749,513

Interest payable and similar expenses

7

207,994

181,554

PROFIT BEFORE TAXATION

460,391

567,959

Tax on profit

8

183,337

121,225

PROFIT FOR THE FINANCIAL PERIOD

277,054

446,734

Profit attributable to:

Owners of the parent

277,054

446,734

PROFIT FOR THE PERIOD

277,054

446,734

OTHER COMPREHENSIVE INCOME

Tax reversal on freehold revaluation

18,916

-

Revaluation of freehold property

-

2,456,089

Freehold depreciation on revaluation

-

(25,710

)

Income tax relating to components of other comprehensive income

-

(672,191

)

OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF INCOME TAX

18,916

1,758,188

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

295,970

2,204,922

Total comprehensive income attributable to:

Owners of the parent

295,970

2,204,922

FIXED ASSETS

Intangible assets

10

858,248

889,280

Tangible assets

11

6,701,354

5,760,073

Investments

12

-

-

7,559,602

6,649,353

CURRENT ASSETS

Stocks

13

838,745

795,460

Debtors

14

3,503,965

4,122,279

Cash at bank and in hand

437,218

647,650

4,779,928

5,565,389

CREDITORS

Amounts falling due within one year

15

(3,306,054

)

(5,390,282

)

NET CURRENT ASSETS

1,473,874

175,107

TOTAL ASSETS LESS CURRENT LIABILITIES

9,033,476

6,824,460

CREDITORS

Amounts falling due after more than one year

16

(1,988,213

)

(74,696

)

PROVISIONS FOR LIABILITIES

20

(1,084,779

)

(1,085,250

)

NET ASSETS

5,960,484

5,664,514

CAPITAL AND RESERVES

Called up share capital

21

150

150

Other reserves

22

3,056,953

3,105,800

Retained earnings

22

2,903,381

2,558,564

SHAREHOLDERS' FUNDS

5,960,484

5,664,514

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

10

-

-

Tangible assets

11

499,761

-

Investments

12

150,050

150,050

649,811

150,050

CURRENT ASSETS

Debtors

14

168,620

250,365

Cash at bank and in hand

40,758

6,380

209,378

256,745

CREDITORS

Amounts falling due within one year

15

(916,258

)

(672,173

)

NET CURRENT LIABILITIES

(706,880

)

(415,428

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(57,069

)

(265,378

)

CREDITORS

Amounts falling due after more than one year

16

(401,447

)

-

NET LIABILITIES

(458,516

)

(265,378

)

CAPITAL AND RESERVES

Called up share capital

21

150

150

Retained earnings

22

(458,666

)

(265,528

)

SHAREHOLDERS' FUNDS

(458,516

)

(265,378

)

Company's loss for the financial year

(193,138

)

(87,343

)

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

Other

Total

capital

earnings

reserves

equity

£

£

£

£

Balance at 1 March 2023

150

2,111,830

1,347,612

3,459,592

Changes in equity

Total comprehensive income

-

446,734

1,758,188

2,204,922

Balance at 29 February 2024

150

2,558,564

3,105,800

5,664,514

Changes in equity

Total comprehensive income

-

344,817

(48,847

)

295,970

Balance at 31 March 2025

150

2,903,381

3,056,953

5,960,484

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 March 2023

150

(178,185

)

(178,035

)

Changes in equity

Total comprehensive income

-

(87,343

)

(87,343

)

Balance at 29 February 2024

150

(265,528

)

(265,378

)

Changes in equity

Total comprehensive income

-

(193,138

)

(193,138

)

Balance at 31 March 2025

150

(458,666

)

(458,516

)

Cash flows from operating activities

Cash generated from operations

1

1,026,575

767,009

Interest paid

(207,994

)

(181,554

)

Tax paid

(198,742

)

(330,236

)

Net cash from operating activities

619,839

255,219

Cash flows from investing activities

Purchase of intangible fixed assets

(100,000

)

(254

)

Purchase of tangible fixed assets

(1,317,563

)

(103,802

)

Interest received

-

6,965

Net cash from investing activities

(1,417,563

)

(97,091

)

Cash flows from financing activities

New loans in year

2,640,654

50,720

Loan repayments in year

(2,699,059

)

(396,108

)

Movement in related entity debtors

450,346

44,170

Movement in related entity creditors

195,351

-

Net cash from financing activities

587,292

(301,218

)

Decrease in cash and cash equivalents

(210,432

)

(143,090

)

Cash and cash equivalents at beginning of period

2

647,650

790,740

Cash and cash equivalents at end of period

2

437,218

647,650

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

PERIOD

1.3.24

TO

YEAR ENDED

31.3.25

29.2.24

£

£

Profit before taxation

460,391

567,959

Depreciation charges

480,325

186,134

Loss on disposal of fixed assets

26,989

-

Impairment of Plant and Machinery

-

188,686

Finance costs

207,994

181,554

Finance income

(9,639

)

(6,965

)

1,166,060

1,117,368

Increase in stocks

(43,285

)

(155,133

)

Decrease/(increase) in trade and other debtors

167,968

(163,835

)

Decrease in trade and other creditors

(264,168

)

(31,391

)

Cash generated from operations

1,026,575

767,009

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Period ended 31 March 2025

31.3.25

1.3.24

£

£

Cash and cash equivalents

437,218

647,650

Year ended 29 February 2024

29.2.24

1.3.23

£

£

Cash and cash equivalents

647,650

790,740

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.3.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

647,650

(210,432

)

437,218

647,650

(210,432

)

437,218

Debt

Finance leases

(102,126

)

(574,102

)

(676,228

)

Debts falling due within 1 year

(2,418,223

)

2,132,509

(285,714

)

Debts falling due after 1 year

-

(1,500,000

)

(1,500,000

)

(2,520,349

)

58,407

(2,461,942

)

Total

(1,872,699

)

(152,025

)

(2,024,724

)