REGISTERED NUMBER: 00946818 (England and Wales)

BLYTH MARBLE LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Page

Company Information

1

Strategic Report

2

Report of the Director

5

Report of the Independent Auditors

7

Income Statement

11

Other Comprehensive Income

12

Balance Sheet

13

Statement of Changes in Equity

14

Cash Flow Statement

15

Notes to the Cash Flow Statement

16

Notes to the Financial Statements

17

DIRECTOR:

Dr NE Blyth

REGISTERED OFFICE:

Carlton Industrial Estate

Carlton in Lindrick

Worksop

S81 9LB

REGISTERED NUMBER:

00946818 (England and Wales)

AUDITORS:

Xeinadin

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

PRINCIPLE ACTIVITY

The company’s principal activity is the trading of marble products.

REVIEW OF THE BUSINESS

As reported in the Statement of Comprehensive Income the company revenue has shown a decrease of £600,395 from £4,256,234 in 2024 to £3,655,839 in the current year, a decrease of 14.11%. The gross profit margin was 24.55% this year against 32.89% in 2024, giving a reduced gross profit contribution of £897,418 this year against £1,228,421 in 2024. There has been a reduction in profit after tax for the year amounting to a loss of £279,343 against a profit of £221,033 in 2024.This movement primarily reflects the recognition of a material provision during the year, which had a significant impact on the Group’s reported result.

The balance sheet shows that the company's net assets at the year end have decreased from £4,912,832 at the end of March 2024 to £4,335,989 at the current year end.

FINANCIAL KEY PERFORMANCE INDICATORS

2025

2024

Turnover

£3,655,839

£4,256,234

Gross Profit

£2,758,421

£2,856,543

Gross Profit Margin

24.55%

32.89%

Profit/(Loss) After Tax

(£279,343)

£221,033

Net Current Assets

£4,589,656

£4,929,022

Net Assets

£4,335,989

£4,912,832

Going concern

Whilst the Report of the directors and Financial Statements are focused on the financial results from 2025, the company's directors are mindful of the impacts of the macroeconomic conditions on the short to medium term resilience of the company. Due to the uncertainty caused by the macroeconomic landscape, the directors have looked at the resilience of the company to stay in business over the next 12 months. Three key measures have been looked at to determine if that position is reasonable, namely, income, expenditure, and cash flow. Based on a forecast of the likely activity in each of these areas the directors are satisfied that this position remains appropriate.

Cash flow

Based on the forecasted income and expenditure cash flow remains at a level above which is required to meet the debts of the company as they fall due.

The company's activities expose it to a number of financial risks including cash flow risk, credit risk, liquidity risk and price risk. The use of financial derivatives is governed by the Group's policies approved by the board of directors, which provide principles on the use of financial derivatives to manage these risks. The company does not use derivative financial instruments for speculative purposes.

PRINCIPAL RISKS AND UNCERTAINTIES

Management continually monitor the key risks facing the company together with assessing the controls used for monitoring these risks. The company has always had a stable financial background so the directors continue to hold the opinion that the company will be able to meet its commitments to the future.

The principal risks and uncertainties facing the company are therefore as follows:

Credit Risk

The company monitors outstanding balances on a monthly basis to identify potential problems and liaises with its customers. If this does not resolve the problem debt collection proceedings are initiated in order to minimise credit risk.

Economic Risk

The company provides materials for the building and construction industries. It maintains close relationships with its key customers n order to be able to identify the early signs of potential financial difficulties and declines in local business. Sales trends in major markets are constantly reviewed to enable early action to be taken in the event of sales declining in the sector, The company has a close working relationship with its customers and therefore knows their needs. The company sources appropriate materials for its customers. The directors are aware of the uncertainly of trade in the building and construction industry and consider that their substantive experience in this industry will carry them through the short term future.

Competitor Risk

The market in which the company operates is considered to competitive and therefore competitor pressure can result in sales fluctuations. The company manages the risk by providing quality products and maintaining strong relations with its key customers because of its supplier contacts through the world.

Supplier Risk

The company purchases products from all over the world but is currently reliant on certain suppliers giving rise to potential inflationary pricing pressure The company manages this risk by monitor its existing suppliers against other material supplier and by seeking alternative suppliers that may be used.. The company realises its risks in currency fluctuations and manages its transactions to take advantage of any substantive movements by holding funds in certain currencies where substantial volume of business are coordination

MARKET STRATEGIES AND OPPORTUNITIES

The company's market strategy is focused on strengthening its competitive position and expanding market share through a combination of new product development, customer retention, and geographic expansion. A key element of this strategy is improving customer satisfaction and building long-term relationships, which helps maintain a loyal customer base and drive repeat business. This is supported by enhanced service offerings, personalized experiences, and ongoing investments in customer support.

Additionally, the company is identifying and capitalizing on emerging opportunities to further its growth. By leveraging these strategies and opportunities, the company aims to achieve sustainable growth, boost profitability, and position itself for continued success in a competitive marketplace.

EVENTS SUBSEQUENT TO YEAR-END

Since the year end, the Company has continued to be involved in an ongoing legal matter. Hearings have taken place, however the matter has not yet been concluded and the final outcome and any related financial impact remain uncertain at the date of approval of the financial statements.

ON BEHALF OF THE BOARD:

Dr NE Blyth - Director

23 December 2025

The director presents her report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

No interim dividends were paid during the year ended 31 March 2025.

The director recommends final dividends per share as follows:

Preferred ordinary shares

£0.05

Ordinary shares

£5.00

The total distribution of dividends for the year ended 31 March 2025 will be £297,500.

DIRECTOR

Dr NE Blyth held office during the whole of the period from 1 April 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is 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 director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, Xeinadin Audit Limited will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Dr NE Blyth - Director

23 December 2025

Opinion

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

In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion paragraph, the financial statements:

- give a true and fair view of the financial position of Blyth Marble Limited as at 31 March 2025 and of its financial performance and its cash flows for the year then ended;

- have been 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 Qualified opinion

Blyth Marble Limited is carrying on the Statement of Financial Position at 31 March 2025 an amount in stock of £2,014,933. We are unable to obtain sufficient appropriate audit evidence relating to the existence of the stock due to the stocktake not being attended under the client's request. Consequently we were unable to determine whether any adjustments to these amounts were necessary. Furthermore we did not attend a stocktake at the prior year end 31 March 2024 under the client's request to which resulted in our audit opinion being modified accordingly. The value of the stock for the period ending 31 March 2024 was £2,344,888. Our audit opinion on the current period's financial statements is also modified because of the possible effect of the this matter on the comparability of the current period's figures and the corresponding figures.Blyth Marble is carrying on the Statement of Financial Position at 31 March 2025 an amount in Provisions for Liabilities of £360,000 relating to events subsequent to the year-end, as disclosed in the strategic report and notes to the Financial Statements. We are unable to obtain sufficient appropriate evidence relating to liability due to the matter ongoing at the date of sign-off. Management have provided for based on their best estimates however the final outcome and related financial impact remains uncertain. We modify our audit opinion in this respect.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

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

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

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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:

Based on our understanding of the company, we identified that the principal risks of non-compliance with the laws and regulations specific to the industry and corporation tax legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. As part of this assessment we considered both quantitative and qualitative factors. We also considered those laws and regulations that have a direct impact on the preparation on the financial statements, such as the Companies Act 2006 and FRS 102.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements which included the risk of management override of controls. We determined that the principal risks were related to posting inappropriate journal entries, omitting, advancing or delaying recognition of events and transactions that have occurred during or after the reporting period, and potential management bias in the determination of accounting estimates or judgements to manipulate results.

Audit procures performed by the engagement team include:

- Enquiring of and obtaining written representation from management in relation to known or suspected instances of non-compliance with laws and regulations and fraud;

- Enquiring of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations;

- Evaluation of management's controls designed to prevent and detect irregularities;

- Identifying and, where relevant, testing journal entries posted by senior management or with unusual combinations;

- Assessing and evaluating the business rationale of significant transactions outside the normal course of business;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Incorporating elements of unpredictability into the nature, timing and/or extent of audit procedures performed.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through collusion.

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

Andrew Cribb FCA (Senior Statutory Auditor)

for and on behalf of Xeinadin

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

28 December 2025

TURNOVER

3

3,655,839

4,256,234

Cost of sales

2,758,421

2,856,543

GROSS PROFIT

897,418

1,399,691

Administrative expenses

1,478,748

1,228,421

(581,330

)

171,270

Other operating income

4

173,198

114,836

OPERATING (LOSS)/PROFIT

7

(408,132

)

286,106

Profit/loss on sale of invest

9

-

35,169

(408,132

)

321,275

Interest receivable and similar income

166,527

130,398

(241,605

)

451,673

Interest payable and similar expenses

10

3,778

-

(LOSS)/PROFIT BEFORE TAXATION

(245,383

)

451,673

Tax on (loss)/profit

11

33,960

230,640

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(279,343

)

221,033

(LOSS)/PROFIT FOR THE YEAR

(279,343

)

221,033

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(279,343

)

221,033

FIXED ASSETS

Intangible assets

13

-

-

Tangible assets

14

114,705

147,308

114,705

147,308

CURRENT ASSETS

Stocks

15

2,014,993

2,344,888

Debtors

16

567,853

705,652

Cash at bank and in hand

4,364,914

4,026,692

6,947,760

7,077,232

CREDITORS

Amounts falling due within one year

17

2,358,104

2,295,518

NET CURRENT ASSETS

4,589,656

4,781,714

TOTAL ASSETS LESS CURRENT LIABILITIES

4,704,361

4,929,022

PROVISIONS FOR LIABILITIES

18

368,372

16,190

NET ASSETS

4,335,989

4,912,832

CAPITAL AND RESERVES

Called up share capital

19

1,000,000

1,000,000

Retained earnings

20

3,335,989

3,912,832

SHAREHOLDERS' FUNDS

4,335,989

4,912,832

The financial statements were approved by the director and authorised for issue on 23 December 2025 and were signed by:

Dr NE Blyth - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

1,000,000

3,989,299

4,989,299

Changes in equity

Dividends

-

(297,500

)

(297,500

)

Total comprehensive income

-

221,033

221,033

Balance at 31 March 2024

1,000,000

3,912,832

4,912,832

Changes in equity

Dividends

-

(297,500

)

(297,500

)

Total comprehensive income

-

(279,343

)

(279,343

)

Balance at 31 March 2025

1,000,000

3,335,989

4,335,989

Cash flows from operating activities

Cash generated from operations

1

502,266

(174,341

)

Interest paid

(3,778

)

-

Tax paid

(220,871

)

(15,287

)

Net cash from operating activities

277,617

(189,628

)

Cash flows from investing activities

Purchase of tangible fixed assets

(35,334

)

(59,500

)

Purchase of fixed asset investments

-

(8,130

)

Sale of tangible fixed assets

3,600

3,750

Sale of fixed asset investments

-

856,830

Interest received

166,527

116,899

Investment income

-

13,500

Net cash from investing activities

134,793

923,349

Cash flows from financing activities

Amount introduced by directors

765

25,500

Interco loans in year

222,547

123,972

Equity dividends paid

(297,500

)

(297,500

)

Net cash from financing activities

(74,188

)

(148,028

)

Increase in cash and cash equivalents

338,222

585,693

Cash and cash equivalents at beginning of year

2

4,026,692

3,440,999

Cash and cash equivalents at end of year

2

4,364,914

4,026,692

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

2025

2024

£

£

(Loss)/profit before taxation

(245,383

)

451,673

Depreciation charges

67,936

68,028

Profit on disposal of fixed assets

(3,600

)

(3,750

)

Provision for exceptional items

360,000

-

Finance costs

3,778

-

Finance income

(166,527

)

(130,398

)

16,204

385,553

Decrease/(increase) in stocks

329,895

(351,064

)

Decrease/(increase) in trade and other debtors

137,799

(13,251

)

Increase/(decrease) in trade and other creditors

18,368

(195,579

)

Cash generated from operations

502,266

(174,341

)

2.	CASH AND CASH EQUIVALENTS

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

Year ended 31 March 2025

31.3.25

1.4.24

£

£

Cash and cash equivalents

4,364,914

4,026,692

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

4,026,692

3,440,999

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

4,026,692

338,222

4,364,914

4,026,692

338,222

4,364,914

Total

4,026,692

338,222

4,364,914

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

These financial statements have been prepared on a going concern basis.

Based on this assessment, the directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business in all anticipated situations, including any capital and servicing obligations of external debt liabilities. The directors consider the company has sufficient funds to continue even if it has to trade at a loss.

In addition, the company's assets are assessed for recoverability on a regular basis, and the directors consider that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis. The Company has funds to enable it to upgrade its assets whenever there is a need.

Therefore the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence fort the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company;'s ability to continue as a going concern.

Significant judgements and estimates

In the application of the groups accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The recognition and measurement of the provision in respect of a health and safety fine involves estimation uncertainty. The provision has been estimated based on legal advice received and management’s assessment of the probable outcome of the matter. The final amount payable may differ from the estimate recognised.

Revenue recognition

Revenue arises from the sale of goods and from management services provided by the Company. Revenue is measured at the fair value of the consideration received or receivable, net of trade discounts and excluding value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the customer, which is on delivery of the goods or on collection by the customer in accordance with the contractual terms of sale.

Revenue also arises from management fees charged in respect of external management services provided by the company.

Interest income is recognised as interest accrues.

Dividend income is recognised when the right to receive the income has been established.

Grant income relating to revenue is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs is recognised in income in the period in which it becomes receivable.

Intangible assets

Intangible assets comprise website costs. These are shown in at cost less amortisation and if appropriate less impairment.

Where appropriate the amount of amortisation is included in the profit and loss account in equal installments over the estimated useful life of the asset. All intangible assets have been full amortised.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost less accumulated depreciation and any provision for impairment.

Depreciation is calculated to write off the cost less estimated residual value of each asset on the following bases over their estimated useful lives.

Leasehold buildings - 10% straight line

Plant & machinery - 8%-25% straight line

Motor vehicles - 25% straight line

The cost of expenditure on leasehold buildings is being written off over the period of its estimated useful life. The company will receive no recompense for the expenditure should it withdraw from the lease.

Stocks

Stocks comprise finished goods held for resale and are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items.

Financial instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds both basic and non-basic financial instruments, which comprise cash and cash equivalents, trade and other debtors, trade and other creditors, derivative financial instruments and equity investments.

The company has chosen to apply the measurement and recognition provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full.

Financial assets - classified as basic financial instruments

Cash and cash equivalents - comprise cash in hand, deposits held with banks and other short-term highly liquid investments with original maturities of three months or less.

Trade and other debtors - are recognised at the transaction price. Amounts that are receivable within one year are measured at the undiscounted amount expected to be receivable, net of any impairment.

At the end of each reporting year, the company assesses whether there is objective evidence that any financial asset amount may be impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the financial assets. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows. The amount of provision is reocgnised immediately in profit or loss.

Equity investments are recognised at the transaction price.

Financial liabilities - classified as basic financial instruments

Trade and other creditors - are measured at the transaction price. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable.

Derivative financial instruments - classified as non-basic financial instruments

Derivative financial instruments are initially recognised at fair value at the date the derivative contract is entered into.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Foreign currencies

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

Post-employment benefits

The company operates defined contribution pension schemes.

Obligations for contributions to the defined contribution schemes are charged to profit and loss in the period the which the contributions relate.

Operating leases

The company has short term leases, on its business operating premises, with the parent company.

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease. The lease payment, has been reduced to assist the company in the Covid-19 period, therefore the charge in the accounts this year reflects the amount paid in the accounting period.

Judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key areas of judgement and estimation uncertainty relate to the determination of useful economic lives of fixed assets, the valuation of stock, and the assessment of recoverability of trade receivables.

Impairment of assets

At each reporting date the company reviews the carrying value of its assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss.

The recoverable amount of an asset is the higher of fair value less costs to sell and value in use. Value in use is the present value of the future cash flows expected to the derived from the asset, or cash generating unit.. The present value calculation involves estimating the future cash inflows and outflows to be derived from continuing use of the assets, and from its ultimate disposal, applying an appropriate discount rate to those future cash flows.

Where the recoverable amount of an asset is less than the carrying amount, an impairment loss is recognised immediately in profit or loss. An impairment loss recognised for all assets is reversed in a subsequent period if, and only if, the reason for the impairment loss have ceased to apply. Impairment losses are charged to profit or loss in administration expenses.

3.

TURNOVER

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

An analysis of turnover by class of business is given below:

2025

2024

£

£

Sales of marble products

3,655,839

4,256,234

3,655,839

4,256,234

4.	OTHER OPERATING INCOME

2025

2024

£

£

Rents received

48,012

45,836

Management fees

69,000

69,000

Insurance receipts

56,186

-

173,198

114,836

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

817,539

852,026

Social security costs

79,544

81,175

Other pension costs

35,591

61,680

932,674

994,881