N & B FOODS LIMITED Accounts






N & B FOODS LIMITED
	Company No. 05247937
		Directors' Report and Audited Financial Statements
		31 March 2025




							Pages

Company Information							2
Strategic Report							3 to 4
Directors' Report							5
Auditor's Report							6 to 8
Statement of Comprehensive Income							9
Statement of Financial Position							10
Statement of Changes in Equity							11
Statement of Cash Flows							12
Notes to the Financial Statements							13 to 24

Directors

B.G. CHAVDA
N. CHAVDA
E.D. ODEDRA
V. ODEDRA





































Secretary

B.G. CHAVDA

Registered Office

22 UPTON ROAD
TILEHURST
READING
BERKSHIRE
RG30 4BJ

Auditor
ADIL DIVECHA
SENIOR AUDITOR
WARD DIVECHA LTD
29 WELBECK STREET
LONDON
W1G 8DA

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

Business review

During the year, the Company generated turnover of £20,877,036 (2024: £21,454,848). Although turnover decreased compared to the prior period, the Company achieved an improvement in its gross profit margin to 17.07% (2024: 16.71%). This improvement was primarily attributable to price increases and the introduction of alternative product lines in response to competitive market conditions.

The net operating profit before tax for the year was £124,966 (2024: £154,856). Despite the increase in operating margin, higher overhead costs arising from inflationary pressures adversely impacted overall profitability. The Company’s net assets as at the year end were £1,873,146 (2024: £1,778,040).

The Company operates in a competitive market environment and continues to be affected by challenging economic conditions, including inflation and the cost-of-living crisis. These factors have resulted in increased cost pressures and heightened competition.

Looking ahead, the directors will continue to focus on managing overheads and procurement costs, while seeking to maintain the Company’s product offering in order to sustain its market share and remain competitive.

Financial and other key performance indicators:

The company's key financial and other performance indicators during the year are as follows:

The company's key performance indicators during the year were as follows:

	Key financial performance indicators:	Unit	2025	2024
1	Gross profit margin	%	17	17

2	Debtor days	Days	10	9

3	Creditor days	Days	34	19

4	Stock Days	Days	38	30

	Other key performance indicators:
1	The creditors days have increased due to increases in product prices, and slow demand. The prices have been increasing in the light of the tariffs, and the war between Russia and Ukraine. It is anticipated that these may continue to subdue the demand and cost of living crisis,

2	The company has agreed to remain within the permitted credit terms and maintained good relationship its suppliers. These terms remained fairly consistent with those prevailing in the industry. the company has continued to maintain tight control over its stocks, and debtors in the light of the inflationary pressures and the cost of living crisis.

3



Principal risks and uncertainties

1	The Company’s operations are subject to a number of financial risks and uncertainties. The principal risks include inflationary cost pressures, pricing volatility, increased competition, product obsolescence, staff shortages, and the risk of under-utilisation of resources. Volatility in foreign exchange markets, geopolitical uncertainty arising from the conflicts in Ukraine and Gaza, and changes in tariffs may also adversely affect the Company’s supply chain and the availability of certain products.

2	The directors monitor these risks on an ongoing basis and seek to mitigate their potential impact through appropriate cost controls and by maintaining close oversight of the Company’s cash flows.






Signed on behalf of the board

E.D. ODEDRA
Director
22 December 2025

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

Principal activities

The principal activity of the company during the year under review was wholesalers of food and beverages.

Directors

The Directors who served at any time during the year were as follows:

B.G. CHAVDA
N. CHAVDA
E.D. ODEDRA
V. ODEDRA







































































Statement of directors' responsibilities
The Directors are responsible for preparing the Directors' report and the accounts in accordance with applicable law and regulations.

Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts 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 these accounts, the directors are required to:
*	select suitable accounting policies and then apply them consistently;
*	make judgements and estimates that are reasonable and prudent;
*	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statments; and
*	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure of information to auditor
So far as the directors are aware, there is no relevant audit information of which the company'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 information and to establish that the company's auditors are aware of that information.










Signed on behalf of the board

E.D. ODEDRA
Director
22 December 2025

Independent Auditor's Report to the members of N & B FOODS LIMITED

Opinion
We have audited the financial statements of N & B FOODS LIMITED (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and the Notes to the Financial Statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 company's affairs as at 31 March 2025 and of its profit 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 accounts, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the accounts 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 accounts are authorised for issue.

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

Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based upon the work undertaken in the course of the audit:
	• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and • the strategic report and the directors' report 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 directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
	• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
	• the financial statements are not in agreement with the accounting records 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 directors’ responsibilities statement found in the directors' report, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the accounts 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.





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 the auditors report.

Use of this 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 an auditors' 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.

ADIL DIVECHA
Senior Statutory Auditor
For and on behalf of		Ward Divecha Ltd
Accountants and Statutory Auditors
29 Welbeck Street
London
W1G 8DA


22 December 2025

for the year ended 31 March 2025

	Notes	2025	2024
		£	£
Revenue		20,877,036	21,454,848

Cost of sales		(17,314,153)	(17,872,900)

Gross profit		3,562,883	3,581,948

Distribution costs and selling expenses		(441,518)	(421,206)

Administrative expenses		(2,940,967)	(2,947,812)



Operating profit	3	180,398	212,930







Interest payable and similar charges	6	(55,432)	(58,074)



Profit on ordinary activities before taxation		124,966	154,856

Taxation	7	(29,860)	(39,765)

Profit for the financial year after taxation		95,106	115,091

Other comprehensive income		-	-





Total comprehensive income/(loss)		95,106	115,091

at	31 March 2025

Company No.		05247937	Notes	2025	2024
				£	£
Fixed assets

	Tangible assets		8	170,915	214,388


				170,915	214,388
Current assets
	Stocks		9	1,828,131	1,483,258
	Debtors		10	1,913,864	1,834,653

	Cash at bank and in hand			565,667	170,118
				4,307,662	3,488,029
Creditors: Amount falling due within one year			11	(1,842,382)	(1,106,837)
Net current assets				2,465,280	2,381,192
Total assets less current liabilities				2,636,195	2,595,580
Creditors: Amounts falling due after more than one year			12	(732,292)	(778,542)
Provisions for liabilities
	Deferred taxation		14	(30,757)	(38,998)

Net assets				1,873,146	1,778,040

Capital and reserves
	Called up share capital		15	100	100



	Profit and loss account		16	1,873,046	1,777,940

Total equity				1,873,146	1,778,040



Approved by the board on 22 December 2025 and signed on its behalf by:

E.D. ODEDRA
Director
22 December 2025

for the year ended 31 March 2025

		Share Capital	Retained earnings	Total equity
		£	£	£
	At 1 April 2023	100	1,662,849	1,662,949




	Profit for the period		115,091	115,091







	At 31 March 2024 and 1 April 2024	100	1,777,940	1,778,040




	Profit for the period		95,106	95,106


	At 31 March 2025	100	1,873,046	1,873,146

for the year ended 31 March 2025

		2025	2024
		£	£

Cash flows from operating activities
	Operating profit	180,398	212,930

Adjustments for:

	Depreciation of property, plant and equipment	43,474	53,597





	Increase in stocks	(344,873)	(244,697)
	Increase in trade and other receivables	(79,211)	(69,483)
	Increase in trade and other payables	710,418	10,695

Net cash generated from/(used in) operations		510,206	(36,958)

	Interest paid	(55,432)	(58,074)
	Income taxes paid	(12,974)	(28,418)

Net cash generated from/(used in) operating activities		441,800	(123,450)

Cash flows from investing activities











Net cash used in investing activities		-	(132,523)

Cash flows from financing activities


	Repayment of borrowings	(46,250)	(46,250)






Net cash used in financing activities		(46,250)	(46,250)

Net increase/(decrease) in cash and cash equivalents		395,550	(302,223)

Cash and cash equivalents at the beginning of the year		170,118	472,342

Cash and cash equivalents at the end of the year		565,668	170,119

Components of cash and cash equivalents
	Cash and bank balances	565,667	170,118


		565,667	170,118

for the year ended 31 March 2025

General information

N & B FOODS LIMITED is a private company limited by shares and incorporated in England and Wales.

Its registered number is: 05247937

Its registered office is:

22 UPTON ROAD

TILEHURST

READING

BERKSHIRE

RG30 4BJ

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The financial statements have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Accounting policies

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is
passed.

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.

Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

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 temporary differences Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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. The measurement of deferred tax liabilities and assets reflects 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 or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Intangible assets

Development expenditure

Development of products is capitalised when it meets the following conditions:

• It is technically feasible to complete the research or development so that the product will be
available for use or sale.
• It is intended to use or sell the product being developed.
• The Company is able to use or sell the product.
• It can be demonstrated that the product will generate probable future economic benefits.
• Adequate technical, financial and other resources exist so that product development can be
completed and subsequently used or sold.
• Expenditure attributable to the research and development work can be reliably measured.

Capitalised development expenditure is stated at cost less accumulated amortisation and impairment losses and amortised over its useful economic life. Assessments of useful economic life range from 5 to 15 years. Amortisation expenses for the year and last year are included in administrative expenses.

All other research and development expenditure is recognised as an expense in the period in which it is incurred.

Goodwill

Goodwill arising on an acquisition of a business is carried at cost less accumulated amortisation and impairment losses, if any. For the purposes of impairment testing, goodwill is allocated to each of the Company's cash-generating units (or groups of cash-generating units) that is expected to benefit from the synergies of the combination.

A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently when there is indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit on a pro-rata basis based on the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognised directly in profit or loss in the statement of comprehensive income. On disposal of the relevant cash-generating unit, the attributable amount of goodwill is included in the determination of the profit or loss on disposal.

Tangible fixed assets and depreciation

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery

20% reducing balance

Motor vehicles

20% reducing balance

Furniture, fittings and equipment

20% reducing balance

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial Instruments (Continued)

For certain categories of financial asset, such as trade receivables, assets that are assessed not to be impaired individually are, in addition, assessed for impairment on a collective basis. Objective evidence of impairment for a portfolio of receivables could include the Company's past experience of collecting payments, an increase in the number of delayed payments in the portfolio past the average credit period of 50 days, as well as observable changes in national or local economic conditions that correlate with default on receivables.

For financial assets carried at amortised cost, the amount of the impairment loss recognised is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost, the amount of the impairment loss is measured as the difference between the asset's carrying amount and the present value of the estimated future cash flows discounted at the current market rate of return for a similar financial asset. Such impairment loss will not be reversed in subsequent periods.

The carrying amount of the financial asset is reduced by the impairment loss directly for all financial assets with the exception of trade receivables, where the carrying amount is reduced through the use of an allowance account. When a trade receivable is considered uncollectible, it is written off against the allowance account. Subsequent recoveries of amounts previously written off are credited against
the allowance account. Changes in the carrying amount of the allowance account are recognised in profit or loss.

For financial assets measured at amortised cost, if, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, the previously recognised impairment loss is reversed through profit or loss to the extent that the carrying amount of the investment at the date the impairment is reversed does not exceed what the amortised cost would have been had the impairment not been recognised.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Interest bearing borrowings

Interest-bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

Related parties

For the purposes of these financial statements, a party is considered to be related to the Company if:

• the party has the ability, directly or indirectly, through one or more intermediaries, to control the
Company or exercise significant influence over the company in making financial and operating policy
decisions, or has joint control over the Company;
• the Company and the party are subject to common control;
• the party is an associate of the Company or a joint venture in which the Company is a venturer;
• the party is a member of key management personnel of the Company or the Company’s parent, or a
close family member of such an individual, or is an entity under the control, joint control or
significant influence of such individuals;
• the party is a close family member of a party referred to in (i) or is an entity under the control, joint
control or significant influence of such individuals; or
• the party is a post-employment benefit plan which is for the benefit of employees of the
Company or of any entity that is a related party of the Company.

Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity.

Foreign currencies

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and
uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial position.

3	Operating Profit
			2025	2024
		This is stated after charging:	£	£

		Depreciation of owned fixed assets	43,474	53,597



		Auditors' remuneration for:
		Audit of the company's annual accounts	8,000	8,000

4	Staff costs
			2025		2024
		Staff costs during the year (including directors) were as follows:	£		£

		Wages and salaries	1,791,030		1,615,542
		Social security costs	157,679		137,884
		Other pension costs	30,824		28,698
		Total in company	1,979,533	30	1,782,124






			-		-
		The average monthly number of employees (including directors) during the year was:	Number		Number

		Administration	14		14
		Production	18		17


		Distribution	29		29
		Total in company	61		60

5	Directors' remuneration
			2025		2024
		Remuneration included within staff costs - Note 4 - in respect of directors was as follows:	£		£
		Aggregate remuneration in respect of qualifying services	186,667		204,468


		Total remuneration	186,667	1	204,468

6	Interest payable and similar charges
			2025	2024
			£	£
		Bank loan and overdraft interest payable	55,432	58,074



			55,432	58,074

7	Taxation
		(a) Tax on profit on ordinary activities	2025	2024
		The tax charge is made up as follows:	£	£
		UK corporation tax
		Charge for the period	38,101	12,974

		Total corporation tax	38,101	12,974

		Origination and reversal of timing differences	(8,241)	26,791

		Total deferred tax	(8,241)	26,791

		Tax on profit on ordinary activities	29,860	39,765

		(b) Factors affecting the total tax charge for the period
		The tax assessed for the year is lower than the standard rate of corporation tax in the UK of 20% (2015: 20%). The differences are reconciled below:
		Lower	2025	2024
		-1382	£	£
		Profit on ordinary activities before tax	124,966	154,856

		Standard rate of corporation tax in the United Kingdom	25%	25%

		Profit on ordinary activities multiplied by standard rate of corporation tax in the United Kingdom	31,242	38,714
		Expenses not deductible for tax purposes	7,259	(25,920)


		Other short term timing differences	(8,641)	26,971
		UK Corporation Tax for the year	-	-

		Tax on profit on ordinary activities	29,860	39,765

8	Tangible fixed assets
			Plant and machinery	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£
		Cost or revaluation
		At 1 April 2024	362,523	354,929	500,880	1,218,332




		At 31 March 2025	362,523	354,929	500,880	1,218,332
		Depreciation and impairment
		At 1 April 2024	236,452	284,172	483,319	1,003,943
		Charge for the year	25,214	14,151	4,109	43,474




		At 31 March 2025	261,666	298,323	487,428	1,047,417
		Net book values
		At 31 March 2025	100,857	56,606	13,452	170,915
		At 31 March 2024	126,071	70,757	17,561	214,388

9	Stocks
			2025	2024
			£	£


		Finished goods	1,828,131	1,483,258
			1,828,131	1,483,258

10	Debtors
			2025	2024
			£	£
		Trade debtors	545,070	370,896
		Amounts owed by group undertakings	1,376,123	1,431,123
		Corporation tax recoverable	-	-

		VAT recoverable	5,508	32,634

		Other debtors	(12,837)	-

			1,913,864	1,834,653

11	Creditors:
	amounts falling due within one year
			2025	2024
			£	£

		Bank loans and overdrafts	46,250	46,250


		Trade creditors	1,622,370	925,953

		Corporation tax	37,046	11,919
		Other taxes and social security	39,647	33,647


		Accruals and deferred income	97,069	89,068
			1,842,382	1,106,837

12	Creditors:
	amounts falling due after more than one year
			2025	2024
			£	£

		Bank loans and overdrafts	732,292	778,542






			732,292	778,542

		Liabilities repayable in more than five years after the balance sheet date
		Amount repayable by instalments	732,292	778,542

			732,292	778,542

13	Creditors: secured liabilities
			2025	2024
			£	£
		The aggregate amount of secured liabilities included within creditors	732,292	778,542

14	Deferred taxation
			Accelerated capital allowances, losses and other timing differences	Total
			£	£
		At 1 April 2024	38,998	38,998
		Charge to the profit and loss account for the period	(8,241)	(8,241)

		At 31 March 2025	30,757	30,757

			2025	2024
			£	£
		Accelerated capital allowances	(8,241)	26,791



			(8,241)	26,791

15	Share Capital
		Called-up share capital represents the nominal value of shares that have been issued.	Nominal value	2025	2025	2024
			£	Number	£	£
		Allotted, called up and fully paid:
		Ordinary Shares	1	100	100	100







					100	100

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

17	Reconciliation of net debt
			At 1 April 2024	Cash flows	New HP/Finance leases	At 31 March 2025

			£	£	£	£
		Cash and cash equivalents	170,118	395,549		565,667

			170,118	395,549	-	565,667



		Bank loans	(824,792)	46,250		(778,542)

			(824,792)	46,250	-	(778,542)

		Net debt	(654,674)	441,799	-	(212,875)

18	Related party disclosures


		Key management personnel	2025	2024
			£	£
		All directors and certain senior employees who have responsibility for planning directing and controlling the activities of the Company are considered to be key management personnel. Total remuneration in respect of these individuals is:	186,667	204,468










		Name of parent company which draws up consolidated financial statements:
		Capital C.O. Holdings Unlimited

		Registered office of parent company:
		Rivermead Drive
		Westlea
		Swindon
		SN5 7EX