REGISTERED NUMBER: 02139649 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 5 APRIL 2025

FOR

INTUMESCENT SYSTEMS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

9

Other Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTORS:

D A Ward

Mrs M Ward

J Sehra

REGISTERED OFFICE:

Charlton House

Dour Street

Dover

Kent

CT16 1BL

BUSINESS ADDRESS:

Envirograf House

Barfrestone

DOVER

Kent

CT15 7JG

REGISTERED NUMBER:

02139649 (England and Wales)

AUDITORS:

McCabe Ford Williams

Chartered Accountants and Statutory Auditors

Charlton House

Dour Street

DOVER

Kent

CT16 1BL

The directors present their strategic report for the period 1 April 2024 to 5 April 2025.

REVIEW OF BUSINESS

The performance for the year is in line with the directors expectations, with the Company's financial position, with Shareholders' Funds totalling £3,585,584 (2024: £3,868,978). In the accounting period under review the company reported an operating loss of £437,111 (2024: £194,249 loss). This loss is reduced by the latest R&D tax credit claim which was processed by HM Revenue and Customs just prior to the year-end.

The company sales have remained in line with last year, with gross profit margins also remaining consistent. The company has preserved gross profit margins throughout the year, with increase in product costs being passed onto the customers. Results show a gross profit margin of 31.7% which has increased by 1.2% from 2024. This shows an overall healthy margin for the core business operations.

The loss has arisen largely due to exceptional costs in relation to light and heat, which have arisen as a result of their fixed term ending in December 2024. During the fixed term, the meter readings have not aligned with what British Gas have reported on bills, due to the meter doing a full rotation. At the end of the fixed term the supplier has reissued invoices and credit notes for periods covering 2023 to 2025, which has put the company in the position of a debtor balance totalling £288,469 at year-end, and also an accrued expense totalling £508,117 for invoices raised in May 2025 relating to the year under review. The net impact on the profit and loss is expenditure totalling £378,875, which is considered exceptional by the directors, therefore they expect the company to return to profitability next year.

The other most significant movement in expenses is legal fees which have risen by £42,841, representing a 17.8% rise. These primarily relate to patent and intellectual property fees for new product development and patenting, which highlights the company's commitment to developing new products and staying ahead of the innovation curve.

The company is generally in a strong position due to some of the products it manufactures being bespoke and only available through them as patented products, with little or no competitors existing in the market which strengthen their overall position.

The focus for 2025/26 is the new regulations in relation to fire doors, with certain properties now requiring to upgrade them, meaning a surge in demand. The directors see this as a big opportunity for the business, and expect volume of sales to increase as a result.

One of the related parties Netlock Ltd, has also sold its Chilham site Maslow Court in November 2025, for proceeds of approximately £800,000. A large amount of the proceeds are to be distributed to the various trading companies within the group for development of products and marketing to increase sales.

KEY PERFORMANCE INDICATORS (KPIs)

Financial

05.04.25

31.03.24

£'000

£'000

Turnover

10,740

10,936

Gross profit

3,400

3,338

Gross profit margin

31.7%

30.5%

Operating profit/(loss)

(437)

(192)

Direct wages to Sales ratio

39.6%

40.7%

PRINCIPAL RISKS AND UNCERTAINTIES

The directors continually monitor the risks and uncertainties that may impact the company's performance, financial position and long-term viability. The principal risks and uncertainties facing the Company include the general economic environment, volatility of markets, technological and innovation risks, as well as regulatory and compliance risks.

Economic and Market Risks

Along with the general economic situation domestically, the wars in Ukraine and Israel have had an impact on the cost and scarcity of raw materials which constitute a ongoing uncertainty for the business, as has had a knock on with supply chains. The company manages these uncertainties by maintaining a good relationship with a broad range of suppliers and ensuring an up to date knowledge of the commodity price in the marketplace. The company has diversified the products it sells to cover a range of sectors, and subsequently it's customer base reflects this, meaning these risks are mitigated.

Regulatory and Compliance Risks

The business is subject to Approved Document B of The Building Regulations 2010, which requires certification processes and stringent regulatory requirements for many of the products sold by Envirograf, the trading name of Intumescent Systems Limited. Regulations have changed significantly in recent years with cladding being a particular example since Grenfell. These changes could require product redesign, additional testing, re-certification and lead to increase costs and potential delays to the market. The company mitigates these risks by undertaking regular training, upholding ISO certifications and use of management and directors with extensive industry and regulatory experience.

Technological and Innovation Risks

Advances in fire-safety technology create a risk of product obsolescence if the company fails to keep up with innovations. The company carries out significant product research and development each year to mitigate these risks, and work closely with third party professional and legal entities to anticipate future needs and demands.

ON BEHALF OF THE BOARD:

D A Ward - Director

2 January 2026

The directors present their report with the financial statements of the company for the period 1 April 2024 to 5 April 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the period under review was that of the development, testing, production and sale of passive fire products.

DIVIDENDS

No dividends will be distributed for the period ended 5 April 2025.

DIRECTORS

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

D A Ward

Mrs M Ward

J Sehra

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's 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 AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the 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 audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

D A Ward - Director

2 January 2026

Opinion

We have audited the financial statements of Intumescent Systems Limited (the 'company') for the period ended 5 April 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 effects of the matter described in the Basis for qualified 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 qualified opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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. We were unable to obtain sufficient appropriate audit evidence regarding the valuation of inventories included in the financial statements. The company was unable to provide supporting documentation for certain stock items, and we were therefore unable to trace those products to underlying purchase or production records. These stock products are in relation to the other group members Enviro Eco Wall Panels Ltd and Electra-Low Ltd, whereby the stock is held in Intumescent Systems Ltd until the point of sale, whereby it is recharged to the relevant company at cost accordingly. These products have a carrying value of £250,260, and do not go through the stock system. Consequently, we could not satisfy ourselves that these items were correctly valued in accordance with the applicable financial reporting framework.

In addition, the company has included an accounting estimate for labour costs attributable to closing stock, work in progress and finished goods totalling £98,864. The underlying data supporting this estimate, including time records, cost allocations and related documentation, was not made available for audit. As a result, we were unable to verify whether the labour cost allocation was reasonable or free from material misstatement.

Because of the matters described above, we were unable to determine whether any adjustments might be necessary to the value of inventories, cost of sales, or the related profit for the year. We have considered the impact on the financial statements throughout the course of the audit and consider that whilst they are material in nature, they are not pervasive.

Conclusions relating to going concern

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

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

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

Emphasis of matter

We draw attention to Note 19 in the financial statements, which describes the uncertainty relating to an ongoing employment tribunal claim brought against the company. The former employee is seeking compensation of approximately £60,000 for alleged wrongful dismissal, whereby the final hearing is due for early 2027. Subsequently the outcome of the case, and any resulting financial impact on the company, cannot presently be determined, and no provision has been recognised in the financial statements. Our opinion is not modified in respect of this matter.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the 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 Directors.

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

-	adequate accounting records have not been kept, 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 Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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.

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other key management, and from our commercial knowledge and experience of the sector

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, FRS 102, taxation legislation, employment and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management, inspecting correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and

regulations; and - understanding the design of the company's remuneration policies.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of

potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC and relevant regulatory bodies.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or 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.

John Sheather BSc FCA (Senior Statutory Auditor)

for and on behalf of McCabe Ford Williams

Chartered Accountants and Statutory Auditors

Charlton House

Dour Street

DOVER

Kent

CT16 1BL

2 January 2026

TURNOVER

10,738,191

10,936,288

Cost of sales

7,334,041

7,598,509

GROSS PROFIT

3,404,150

3,337,779

Administrative expenses

3,842,917

3,532,028

OPERATING LOSS

6

(438,767

)

(194,249

)

Interest receivable and similar income

1,656

2,090

LOSS BEFORE TAXATION

(437,111

)

(192,159

)

Tax on loss

7

(160,730

)

(328,898

)

(LOSS)/PROFIT FOR THE FINANCIAL PERIOD

(276,381

)

136,739

(LOSS)/PROFIT FOR THE PERIOD

(276,381

)

136,739

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

(276,381

)

136,739

FIXED ASSETS

Intangible assets

10

-

-

Tangible assets

11

825,999

1,048,811

825,999

1,048,811

CURRENT ASSETS

Stocks

12

1,272,384

1,256,238

Debtors

13

3,405,051

2,988,581

Cash at bank and in hand

132,955

202,888

4,810,390

4,447,707

CREDITORS

Amounts falling due within one year

14

1,951,555

1,459,703

NET CURRENT ASSETS

2,858,835

2,988,004

TOTAL ASSETS LESS CURRENT LIABILITIES

3,684,834

4,036,815

PROVISIONS FOR LIABILITIES

16

99,250

174,850

NET ASSETS

3,585,584

3,861,965

CAPITAL AND RESERVES

Called up share capital

17

2

2

Retained earnings

18

3,585,582

3,861,963

SHAREHOLDERS' FUNDS

3,585,584

3,861,965

The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2026 and were signed on its behalf by:

D A Ward - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

2

3,725,224

3,725,226

Changes in equity

Total comprehensive income

-

136,739

136,739

Balance at 31 March 2024

2

3,861,963

3,861,965

Changes in equity

Total comprehensive income

-

(276,381

)

(276,381

)

Balance at 5 April 2025

2

3,585,582

3,585,584

Cash flows from operating activities

Cash generated from operations

1

(185,654

)

17,632

Tax paid

86,830

161,896

Net cash from operating activities

(98,824

)

179,528

Cash flows from investing activities

Purchase of tangible fixed assets

(45,661

)

(75,474

)

Sale of tangible fixed assets

2,422

95,834

Interest received

1,656

2,090

Net cash from investing activities

(41,583

)

22,450

Cash flows from financing activities

Amount introduced by directors

70,688

1,693

Amount withdrawn by directors

(214

)

-

Net cash from financing activities

70,474

1,693

(Decrease)/increase in cash and cash equivalents

(69,933

)

203,671

Cash and cash equivalents at beginning of period

2

202,888

(783

)

Cash and cash equivalents at end of period

2

132,955

202,888

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

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Loss before taxation

(437,111

)

(192,159

)

Depreciation charges

262,367

321,131

Loss/(profit) on disposal of fixed assets

3,685

(32,184

)

Finance income

(1,656

)

(2,090

)

(172,715

)

94,698

Increase in stocks

(16,146

)

(298,005

)

(Increase)/decrease in trade and other debtors

(425,185

)

271,419

Increase/(decrease) in trade and other creditors

428,392

(50,480

)

Cash generated from operations

(185,654

)

17,632

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:

Period ended 5 April 2025

5.4.25

1.4.24

£

£

Cash and cash equivalents

132,955

202,888

Year ended 31 March 2024

31.3.24

1.4.23

£

£

Cash and cash equivalents

202,888

29,504

Bank overdrafts

-

(30,287

)

202,888

(783

)

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 5.4.25

£

£

£

Net cash

Cash at bank and in hand

202,888

(69,933

)

132,955

202,888

(69,933

)

132,955

Total

202,888

(69,933

)

132,955

1.	CHANGE OF ACCOUNTING REFERENCE DATE

After the year-end it was agreed by the directors for the company extend its accounting reference date to 5 April 2025. The company however will continue to prepare its records to 31 March, which falls within the seven day window as permitted under the Companies Act 2006 S.390.

2.	STATUTORY INFORMATION

Intumescent Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).

3.	STATEMENT OF COMPLIANCE

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.

4.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill arose on the acquisition of a business in 2008, and was amortised over its estimated useful life of two years. This was fully amortised as of 2010.

Tangible fixed assets

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

Improvements to property

-

25% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance, 20% on cost and 5% on cost

Motor vehicles

-

25% on reducing balance

Stocks

Stock and work-in-progress are stated at the lower of cost and net realisable value. Cost is calculated using the average cost method and consists of material and director labour costs, together with an appropriate proportion of production overheads, and after making due allowance for any slow moving or obsolete stock items.

Taxation

Taxation for the period 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 balance 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 period 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

5.	EMPLOYEES AND DIRECTORS

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Wages and salaries

5,201,212

5,364,865

Social security costs

502,895

524,485

Other pension costs

86,751

92,907

5,790,858

5,982,257

The average number of employees during the period was as follows:

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

Employees

159

166

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Directors' remuneration

339,640

336,030

Information regarding the highest paid director is as follows:

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Emoluments etc

181,573

178,014

6.	OPERATING LOSS

The operating loss is stated after charging/(crediting):

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Carriage and freight

216,262

233,538

Other operating leases

97,549

95,737

Depreciation - owned assets

262,366

321,132

Loss/(profit) on disposal of fixed assets

3,685

(32,184

)

Auditors' remuneration

20,000

31,603

7.

TAXATION

Analysis of the tax credit

The tax credit on the loss for the period was as follows:

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Current tax:

UK corporation tax

(85,130

)

(241,812

)

Deferred tax

(75,600

)

(87,086

)

Tax on loss

(160,730

)

(328,898

)

8.	GOING CONCERN

The financial statements have been prepared on a going concern basis. In assessing the appropriateness of this basis, the directors have considered the company’s financial position and performance. While the company reported a loss for the year under review, this was primarily attributable to discretionary investment in new product development, together with exceptional increases in light and heat costs, which resulted in an abnormal level of expenditure during the year. As at the 2025 year end, the company had no external borrowings or other interest-bearing liabilities. Based on this assessment, the directors consider that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due over the next twelve months.

9.	PARENT COMPANY

The company is a subsidiary of Envirograf Limited, which owns 90% of the share capital, and has significant control over the entity.

10.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 5 April 2025

93,119

AMORTISATION

At 1 April 2024

and 5 April 2025

93,119

NET BOOK VALUE

At 5 April 2025

-

At 31 March 2024

-

11.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2024

26,074

2,151,242

498,749

267,403

2,943,468

Additions

17,642

28,019

-

-

45,661

Disposals

-

(18,900

)

-

-

(18,900

)

At 5 April 2025

43,716

2,160,361

498,749

267,403

2,970,229

DEPRECIATION

At 1 April 2024

543

1,459,005

254,428

180,681

1,894,657

Charge for period

10,467

179,159

47,378

25,362

262,366

Eliminated on disposal

-

(12,793

)

-

-

(12,793

)

At 5 April 2025

11,010

1,625,371

301,806

206,043

2,144,230

NET BOOK VALUE

At 5 April 2025

32,706

534,990

196,943

61,360

825,999

At 31 March 2024

25,531

692,237

244,321

86,722

1,048,811

12.

STOCKS

5.4.25

31.3.24

£

£

Stocks

1,078,021

1,056,830

Finished goods

194,363

199,408

1,272,384

1,256,238