Avica UK Ltd

	Page
Company Information	1
Strategic Report	2—3
Director's Report	4—5
Independent Auditor's Report	6—8
Profit and Loss Account	9
Statement of Comprehensive Income	10
Balance Sheet	11
Statement of Changes in Equity	12
Statement of Cash Flows	13
Notes to the Statement of Cash Flows	14
Notes to the Financial Statements	15—20

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Avica UK Ltd

Strategic Report

For The Year Ended 31 March 2025

Strategic Report

The director presents his strategic report for the year ended 31 March 2025.

Review of the Business

Avica UK Ltd operates as a supplier of cleaning, hygiene, catering and healthcare equipment and consumables, serving a broad customer base across multiple sectors.

For the year ended 31 March 2025, the Company reported turnover of £12.2 million (2024: £12.0 million), representing modest revenue growth in a competitive and inflationary trading environment. Gross profit increased to £4.64 million (2024: £4.54 million), reflecting continued focus on margin management and procurement efficiency.

Profit for the financial year after taxation was £71,937 (2024: £106,106). The reduction in profitability compared with the prior year primarily reflects increased operating costs, including distribution, staffing and overhead pressures, which were only partially offset by revenue growth and gross margin improvements.

At the balance sheet date, total equity amounted to £660,399 (2024: £657,462). The increase in net assets during the year reflects the profit generated in the period, partly offset by dividends paid to shareholders.

The directors consider the financial performance for the year to be satisfactory in the context of the wider economic environment, noting that the business has remained profitable and operationally resilient.

The directors monitor performance using a combination of financial and operational key performance indicators, including:

Revenue: £12.2 million (2024: £12.0 million)
Gross profit margin: approximately 38% (2024: approximately 38%)
Profit after tax: £71,937 (2024: £106,106)
Net assets: £660,399 (2024: £657,462)

Operational performance is monitored through regular review of inventory levels, supplier performance and customer demand trends, with a continued focus on maintaining service levels while managing working capital efficiently.

Principal Risks and Uncertainties

The directors have identified the following principal risks and uncertainties affecting the Company:

Market competition: The Company operates in a highly competitive sector, with ongoing pricing pressure from competitors. The Company mitigates this risk by focusing on service reliability, product availability and maintaining long-term customer relationships.

Cost inflation and margin pressure: Rising costs in logistics, labour and materials continue to place pressure on operating margins. Management actively monitors cost structures, negotiates supplier terms where possible, and seeks operational efficiencies to mitigate these pressures.

Supply chain disruption: Global supply chain volatility remains a risk to product availability and delivery times. The Company mitigates this risk by maintaining relationships with multiple suppliers and holding appropriate inventory levels for key product lines.

Regulatory and compliance risk: The business is subject to health and safety, environmental and employment regulations. The directors monitor regulatory developments and ensure appropriate policies, procedures and training are in place to support ongoing compliance.

The directors believe that the Company’s risk management framework remains appropriate for the size and nature of the business.

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Avica UK Ltd

Strategic Report (continued)

For The Year Ended 31 March 2025

Future Developments

The directors remain cautiously optimistic regarding the Company’s prospects. The focus for the forthcoming year will be on:

Maintaining margin discipline in a challenging cost environment
Continued improvement in operational efficiency and stock management
Selective investment in systems and processes to support scalability
Responding to evolving customer requirements, including demand for more sustainable product options

While economic conditions remain uncertain, the directors believe the Company is well positioned to continue trading profitably and to manage foreseeable risks.

On behalf of the board

Mr Jeremy Richard Thorn

Director

31 December 2025

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Avica UK Ltd

Company No. 03708767

Director's Report For The Year Ended 31 March 2025

Director's Report

The director presents his report and the financial statements for the year ended 31 March 2025.

Principal Activity

The company's principal activity continues to be that of supplying cleaning, hygiene, catering and healthcare equipment and disposables.

Dividends

The value of dividends paid amounted to £69,000 .

The director recommended a final dividend of £NIL .

Directors

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

Mr Jeremy Richard Thorn

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the director consider them to be of strategic importance to the business.

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:

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

The 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 them to ensure that the financial statements comply with the Companies Act 2006. He 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.

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

Statement of Disclosure of Information to Auditors

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

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

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Avica UK Ltd

Director's Report (continued)

For The Year Ended 31 March 2025

Independent Auditors

The auditors, Affinity Associates Limited, have indicated their willingness to continue in office and a resolution concerning their appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Jeremy Richard Thorn

Director

31 December 2025

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Independent Auditor's Report

to the Members of

Avica UK Ltd

Independent Auditor's Report

Opinion

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

In our opinion the financial statements:

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

Basis for Opinion

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

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the 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 entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

Other Information

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

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

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

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

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Independent Auditor's Report (continued)

to the Members of

Avica UK Ltd

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 Director's Report.

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

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of 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 Directors

As explained more fully in the Director's Responsibilities Statement set out on page 4—5, 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 determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

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

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

Identification of relevant laws and regulations

We identified laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, including:

United Kingdom Financial Reporting Standards (FRS 102);
The Companies Act 2006;
Corporation tax, VAT and payroll legislation; and
Distributable profits legislation.

We also considered laws and regulations that are fundamental to the Company’s operations, including health and safety, employment and data protection legislation.

Audit procedures undertaken to detect irregularities

Our procedures included, but were not limited to:

Enquiries of management regarding known or suspected instances of non-compliance with laws and regulations;
Review of board minutes and correspondence with regulatory authorities;
Testing of journal entries, particularly those involving unusual, significant or unexpected transactions;
Analytical procedures to identify unexpected trends or relationships in financial data; and
Evaluating the design and implementation of controls relevant to the prevention and detection of fraud, including consideration of management override of controls.

Outcome and inherent limitations

Based on the work performed, we did not identify any material instances of fraud or non-compliance with laws and regulations. However, as with all audits, there remains an unavoidable risk that some material misstatements may not be detected, particularly those arising from fraud, due to inherent limitations such as collusion, misrepresentation or management override of controls.

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

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Independent Auditor's Report (continued)

to the Members of

Avica UK Ltd

Use Of Our Report

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

Mr. Mukund Amin (Senior Statutory Auditor)

for and on behalf of Affinity Associates Limited , Statutory Auditor

31 December 2025

Affinity Associates Limited

11/12 Hallmark Trading Centre

Fourth Way

Wembley

Middlesex

HA9 0LB

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Avica UK Ltd

Profit and Loss Account

For The Year Ended 31 March 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	12,200,000	11,964,081
Cost of sales		(7,557,436 )	(7,420,858 )

GROSS PROFIT		4,642,564	4,543,223

Distribution costs		(572,503 )	(680,620 )
Administrative expenses		(3,976,546 )	(3,728,837 )

OPERATING PROFIT	4	93,515	133,766
Profit on disposal of fixed assets		21,808	4,260
Other interest receivable and similar income	9	24	303
Interest payable and similar charges	10	(10,603 )	(15,575 )

PROFIT BEFORE TAXATION		104,744	122,754
Tax on Profit		(32,807 )	(16,648 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		71,937	106,106

The notes on pages 14 to 20 form part of these financial statements.

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Avica UK Ltd

Statement of Comprehensive Income

For The Year Ended 31 March 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	71,937	106,106
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	71,937	106,106

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Avica UK Ltd

Balance Sheet

As At 31 March 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		627,361		510,251

			627,361		510,251
CURRENT ASSETS
Stocks	13	1,593,252		1,553,707
Debtors	14	2,058,559		2,021,373
Cash at bank and in hand		21,193		50,314

		3,673,004		3,625,394
Creditors: Amounts Falling Due Within One Year	15	(3,480,816 )		(3,235,172 )

NET CURRENT ASSETS (LIABILITIES)			192,188		390,222

TOTAL ASSETS LESS CURRENT LIABILITIES			819,549		900,473

Creditors: Amounts Falling Due After More Than One Year	16		(9,722 )		(126,389 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	18		(149,428 )		(116,622 )

NET ASSETS			660,399		657,462

CAPITAL AND RESERVES
Called up share capital	19		100		100
Profit and Loss Account			660,299		657,362

SHAREHOLDERS' FUNDS			660,399		657,462

The financial statements were approved by the board of directors on 31 December 2025 and were signed on its behalf by:

Mr Jeremy Richard Thorn

Director

The notes on pages 14 to 20 form part of these financial statements.

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Avica UK Ltd

Statement of Changes in Equity

For The Year Ended 31 March 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 April 2023	100	631,256	631,356
Profit for the year and total comprehensive income	-	106,106	106,106

Dividends paid	-	(80,000)	(80,000)

As at 31 March 2024 and 1 April 2024	100	657,362	657,462


Profit for the year and total comprehensive income	-	71,937	71,937

Dividends paid	-	(69,000)	(69,000)

As at 31 March 2025	100	660,299	660,399

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Avica UK Ltd

Statement of Cash Flows

For The Year Ended 31 March 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from/(used in) operations	1	608,833	(87,154 )
Interest paid		(10,603 )	(15,575 )
Tax (paid)/refunded		(23,943 )	10,046

Net cash generated from/(used in) operating activities		574,287	(92,683 )

Cash flows from investing activities
Purchase of tangible assets		(268,140 )	(238,008 )
Proceeds from disposal of tangible assets		24,200	4,260
Interest received		24	303

Net cash used in investing activities		(243,916 )	(233,445 )

Cash flows from financing activities
Equity dividends paid		(69,000 )	(80,000 )
Repayment of bank borrowings		(147,688 )	(183,019 )
Amount introduced by directors		22,114	-
Amount withdrawn by directors		-	(12,717)

Net cash used in financing activities		(194,574 )	(275,736 )



Increase/(decrease) in cash and cash equivalents		135,797	(601,864 )
Cash and cash equivalents at beginning of year	2	(202,492 )	399,372

Cash and cash equivalents at end of year	2	(66,695 )	(202,492 )

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Avica UK Ltd

Notes to the Statement of Cash Flows

For The Year Ended 31 March 2025

Notes to the Statement of Cash Flows

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

	2025	2024
	£	£
Profit for the financial year	71,937	106,106
Adjustments for:
Tax on profit	32,807	16,648
Interest expense	10,603	15,575
Interest income	(24 )	(303 )
Depreciation of tangible assets	148,638	129,820
Profit on disposal of tangible assets	(21,808)	(4,260)
Movements in working capital:
Increase in stocks	(39,545 )	(50,169 )
Increase in trade and other debtors	(47,913 )	(169,060 )
Increase/(decrease) in trade and other creditors	454,138	(131,511 )

Net cash generated from/(used in) operations	608,833	(87,154 )

2. Cash and cash equivalents

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

	2025	2024
	£	£
Cash at bank and in hand	21,193	50,314
Overdraft facilities repayable on demand	(87,888 )	(252,806 )

Cash and cash equivalents as stated in the Statement of Cash Flows	(66,695)	(202,492)

3. Analysis of changes in net debt

	As at 1 April 2024	Cash flows	As at 31 March 2025
	£	£	£
Cash at bank and in hand	50,314	(29,121)	21,193
Overdraft facilities repayable on demand	(252,806)	164,918	(87,888)

Cash and cash equivalents	(202,492 )	135,797	(66,695 )
Debts falling due within one year	(1,207,899 )	31,021	(1,176,878 )
Debts falling due after more than one year	(126,389)	116,667	(9,722)

	(1,536,780)	283,485	(1,253,295)

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Avica UK Ltd

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Avica UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03708767 . The registered office is 40 Caxton Way, Watford, WD18 8QZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Going Concern Disclosure

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

2.3. Significant judgements and estimations

In the application of the company’s accounting policies, the director is 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. 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 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.

2.4. Turnover

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

Sale of goods

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

Rendering of services

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

2.5. Tangible Fixed Assets and Depreciation

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

Leasehold	Nil
Plant & Machinery	20% on cost
Motor Vehicles	15% on cost
Fixtures & Fittings	20% on cost

2.6. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

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Avica UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.8. Cash and Cash Equivalents

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

2.9. Taxation

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

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

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

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

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

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Principal activity	12,200,000	11,964,081

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	12,200,000	11,964,081

	12,200,000	11,964,081

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Avica UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	55,782	(108)
Depreciation of tangible fixed assets	148,638	129,820

5. Auditor's Remuneration

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

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	7,250	4,500

6. Staff Costs

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

	2025	2024
	£	£
Wages and salaries	2,327,218	2,295,157
Social security costs	224,610	214,206
Other pension costs	59,560	63,193

	2,611,388	2,572,556

7. Average Number of Employees

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

	2025	2024
Office and administration	7	7
Sales, marketing and distribution	75	79

	82	86

8. Director's remuneration

	2025	2024
	£	£
Emoluments	12,570	12,570

9. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	24	303

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Avica UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

10. Interest Payable and Similar Charges

	2025	2024
	£	£
Interest payable on other loans	10,459	15,573
Late payment tax charges	144	2

	10,603	15,575

11. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 April 2024	779,931	2,000	781,931

As at 31 March 2025	779,931	2,000	781,931

Amortisation
As at 1 April 2024	779,931	2,000	781,931

As at 31 March 2025	779,931	2,000	781,931

Net Book Value
As at 31 March 2025	-	-	-

As at 1 April 2024	-	-	-

12. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 April 2024	512,646	958,505	139,931	1,611,082
Additions	19,600	246,730	1,810	268,140
Disposals	-	(73,140 )	-	(73,140 )

As at 31 March 2025	532,246	1,132,095	141,741	1,806,082

Depreciation
As at 1 April 2024	418,729	558,131	123,971	1,100,831
Provided during the period	32,344	112,093	4,201	148,638
Disposals	-	(70,748 )	-	(70,748 )

As at 31 March 2025	451,073	599,476	128,172	1,178,721

Net Book Value
As at 31 March 2025	81,173	532,619	13,569	627,361

As at 1 April 2024	93,917	400,374	15,960	510,251

13. Stocks

	2025	2024
	£	£
Finished goods	1,593,252	1,553,707

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Avica UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

14. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,618,180	1,689,734
Prepayments and accrued income	371,263	279,675
Other debtors - Loans to employee	39,314	40,164
Other debtors - Child support	1,607	1,073
Other debtors - OPL	28,195	-
Director's loan account	-	10,727

	2,058,559	2,021,373

15. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1,740,293	1,384,146
Bank loans and overdrafts	1,264,766	1,460,705
Corporation tax	-	23,942
Other taxes and social security	56,147	51,793
VAT	184,242	169,293
Accruals and deferred income	223,981	145,293
Director's loan account	11,387	-

	3,480,816	3,235,172

16. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	9,722	126,389

17. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	1,176,878	1,207,899

	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	9,722	126,389

18. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	149,428	116,622

Page 19

Page 20

Avica UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

19. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

20. Pension Commitments

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

During the year the charge to the profit and loss account in respect of defined contribution schemes was £59,560 (2024: £63,193).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

21. Dividends

	2025	2024
	£	£
On equity shares:
Interim dividend paid	69,000	80,000

22. Related Party Disclosures

Mr Jeremy Richard Thorn is the sole director and shareholder of the Company.

During the year, the Company entered into transactions with Mr Jeremy Richard Thorn in his capacity as shareholder. An interim dividend of £69,000 was paid to Mr Jeremy Richard Thorn during the year ended 31 March 2025 (2024: £80,000).

There were no amounts outstanding in respect of dividends payable to Mr Jeremy Richard Thorn at the balance sheet date.

The dividends were paid in proportion to shareholdings and on the same terms as applied to all equity shareholders.

23. Controlling Parties

The company's ultimate controlling party is Mr Jeremy Richard Thorn by virtue of their interest in the share capital of the company.

Page 20

Director	Mr Jeremy Richard Thorn

Company Number	03708767

Registered Office	40 Caxton Way
	Watford
	WD18 8QZ

Business	40 Caxton Way
	Watford
	WD18 8QZ

Auditors	Affinity Associates Limited
	11/12 Hallmark Trading Centre
	Fourth Way
	Wembley
	Middlesex
	HA9 0LB