REGISTERED NUMBER: 05484681 (England and Wales)

REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

FOR

HFMC GROUP HOLDINGS LTD

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

8

Other Comprehensive Income

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

J N J Hoyland

L A R Paris

R H Ibbotson

M E Waller

P Patient

J Kennedy

J Roberts

SECRETARY:

L A R Paris

REGISTERED OFFICE:

55 Loudoun Road

St John's Wood

London

NW8 0DL

REGISTERED NUMBER:

05484681 (England and Wales)

AUDITORS:

Moore Kingston Smith LLP

9 Appold Street

London

EC2A 2AP

The directors present their report with the financial statements of the company for the year ended 5 April 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company for the HFMC Wealth group of companies.

REVIEW OF BUSINESS

The results for 2025 reflect a turnover of £899,233 (2024: £721,724) and trading profit of £1,192,022 (2024:£2,310,071).

The Board monitors the progress of the company's performance and the individual strategic elements on a monthly basis by reference to three KPI's;

1. Profits

2. Cashflow

3. Turnover

DIRECTORS

The directors shown below have held office during the whole of the period from 6 April 2024 to the date of this report.

J N J Hoyland

L A R Paris

R H Ibbotson

M E Waller

P Patient

J Kennedy

Other changes in directors holding office are as follows:

J Roberts was appointed as a director after 5 April 2025 but prior to the date of this report.

S Dunn ceased to be a director after 5 April 2025 but prior to the date of this report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing 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.

AUDITORS

The auditors, Moore Kingston Smith LLP, are deemed to be re-appointed under section 487(2) of the Companies Act 2006.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

L A R Paris - Secretary

26 December 2025

Opinion

We have audited the financial statements of HFMC Group Holdings Ltd (the 'company') for the year ended 5 April 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 5 April 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 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.

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.

Other information

The directors are responsible for the other information. The other information comprises the information in 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has 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 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; or

-	the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, 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:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

- We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation.

- We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.

- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

- We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

- Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

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

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

Use of our report

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

Ian Matthews (Senior Statutory Auditor)

for and on behalf of Moore Kingston Smith LLP

9 Appold Street

London

EC2A 2AP

26 December 2025

REVENUE

899,233

721,724

Administrative expenses

(1,115,450

)

(977,146

)

(216,217

)

(255,422

)

Other operating income

-

3,056

OPERATING LOSS

6

(216,217

)

(252,366

)

Exceptional item

7

-

(79,340

)

(216,217

)

(331,706

)

Income from participating interests

1,260,328

314,184

Income from fixed asset investments

8

1,100,000

2,997,495

2,144,111

2,979,973

Interest payable and similar expenses

9

(832,992

)

(669,902

)

PROFIT BEFORE TAXATION

1,311,119

2,310,071

Tax on profit

10

(119,097

)

-

PROFIT FOR THE FINANCIAL YEAR

1,192,022

2,310,071

PROFIT FOR THE YEAR

1,192,022

2,310,071

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,192,022

2,310,071

FIXED ASSETS

Intangible assets

11

294,907

476,584

Property, plant and equipment

12

153,815

213,680

Investments

13

18,225,001

18,050,001

18,673,723

18,740,265

CURRENT ASSETS

Debtors

14

4,049,621

1,796,688

Cash at bank and in hand

2,605,762

1,180,655

6,655,383

2,977,343

CREDITORS

Amounts falling due within one year

15

(8,933,441

)

(8,777,218

)

NET CURRENT LIABILITIES

(2,278,058

)

(5,799,875

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,395,665

12,940,390

CREDITORS

Amounts falling due after more than one year

16

(7,162,423

)

(4,899,170

)

NET ASSETS

9,233,242

8,041,220

CAPITAL AND RESERVES

Called up share capital

20

762,140

762,140

Share premium

2,338,400

2,338,400

Capital redemption reserve

120,849

120,849

Retained earnings

6,011,853

4,819,831

9,233,242

8,041,220

The financial statements were approved by the Board of Directors and authorised for issue on 26 December 2025 and were signed on its behalf by:

J N J Hoyland - Director

P Patient - Director

Called up

Capital

share

Retained

Share

redemption

Total

capital

earnings

premium

reserve

equity

£

£

£

£

£

Balance at 6 April 2023

762,140

2,509,760

2,338,400

120,849

5,731,149

Changes in equity

Total comprehensive income

-

2,310,071

-

-

2,310,071

Balance at 5 April 2024

762,140

4,819,831

2,338,400

120,849

8,041,220

Changes in equity

Total comprehensive income

-

1,192,022

-

-

1,192,022

Balance at 5 April 2025

762,140

6,011,853

2,338,400

120,849

9,233,242

1.	COMPANY INFORMATION

The entity is a Limited Company incorporated in the United Kingdom. Its principal place of business is HFMC House, New Road , Weybridge Surrey, KT13 9BW, England.

2.	STATUTORY INFORMATION

HFMC Group Holdings Ltd 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about HFMC Group Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, HFMC Wealth Holdings Limited, Russell House, 140 High Street, Edgware, Middlesex, United Kingdom, HA8 7LW

Turnover

Revenue is measured at the fair value of the consideration received or receivable , excluding discounts, value added tax and other sales taxes. Revenue arises from the rendering of services and is recognised when the service is provided and in accordance with the stage of completion.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

An impairment loss has been recognised in the Statement of Comprehensive Income, following an assessment at the Statement of Financial Position date indicating the recoverable amount was less than its carrying value.

Intangible fixed assets are being amortised evenly over their estimated useful life of 6 and 7 years.

Tangible fixed assets

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

Plant and machinery

-

33% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

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

Debtors

Short term debtors are measured at transaction price less any impairments. Loans receivable are initially measured at fair value, net of transaction costs and where material are measured subsequently at amortised costs using the effective interest method , less any impairment.

Creditors

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

Taxation

Current tax is recognised for the amount of Corporation tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised as a liability or an asset if transactions or events that give the company the obligation to pay more tax in future or a right to pay less tax in future have occurred by the Balance sheet date,

Fixed asset investments

Investments comprise investments in unquoted equity instruments measured at cost less any impairment.

Revenue recognition

Turnover represents the amounts receivable for the provision of financial services.

Revenue is measured at the fair value of the consideration received or receivable net of sales tax, trade discounts and customer credits.

Financial Instruments

The company has elected to apply the provisions of Section 11 ' Basic Financial Instruments' and ' Section 12 ' Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and where material the changes in fair value are recognised in the Statement of Total Comprehensive Income, except that investments in equity instruments that are not publicly traded and whose fair value cannot be measured reliably are measured at cost less impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets

Financial assets , other than those held at fair value are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive Income

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from group undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method

Cash and cash equivalents

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

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Coronavirus Business Interruption Loan Scheme (CBILS)

On 27th January 2021 the company received £1,600,000 loan. This is split into two tranches of £800,000. The first tranche is repayable over 5 years, with interest incurred at 7.75%. The second tranche is interest only incurred at 7.75%, with the capital being repaid at the end of the 5 year period. The initial 12 months interest payments made by the Government was recognised as grant income.

4.	EMPLOYEES AND DIRECTORS

5.4.25

5.4.24

£

£

Wages and salaries

142,906

107,106

Social security costs

6,688

4,307

149,594

111,413

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

5.4.25

5.4.24

General Staff

4

5

Directors

6

6

10

11

All staff costs relate to the Administration and Operations of the Company

5.	DIRECTORS' EMOLUMENTS

5.4.25

5.4.24

£

£

Directors' remuneration

106,846

80,706

6.	OPERATING LOSS

The operating loss is stated after charging:

5.4.25

5.4.24

£

£

Depreciation - owned assets

141,779

146,987

Other intangible fixed assets amortisation

181,677

195,917

Auditor's remuneration

46,600

33,940

7.	EXCEPTIONAL ITEMS

5.4.25

5.4.24

£

£

Exceptional item

-

(79,340

)

As part of the group's growth objectives, the company engaged external advisors to identify suitable joint venture partners or investors following which a rationalisation program was undertaken leading to more detailed negotiation with the selected investor.

The exceptional item represents costs incurred to the year end by the company in engaging on the above exercise.

8.

INCOME FROM FIXED ASSET INVESTMENTS

Dividends during the year:

5.4.25

5.4.24

£

£

Aspinalls Management Ltd

-

251,361

Weston-Cummins Ltd

180,000

700,000

Aspinalls Group Ltd.

-

451,134

HFMC Wealth Ltd.

800,000

1,080,000

HFMC Private Clients Limited.

60,000

75,000

Harford Financial Limited

-

100,000

R&S Associates Planning Ltd

60,000

340,000

Income during the year:

5.4.25

5.4.24

£

£

HFMC Wealth Partners LLP

644,914

288,855

Aspinalls Family Office LLP

2,818

-

HFMC Group Services LLP

612,596

25,329

9.

INTEREST PAYABLE AND SIMILAR EXPENSES

5.4.25

5.4.24

£

£

Bank loan interest

822,893

662,115

Finance interest

10,099

7,787

832,992

669,902

10.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

5.4.25

5.4.24

£

£

Current tax:

UK corporation tax

119,097

-

Tax on profit

119,097

-

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

5.4.25

5.4.24

£

£

Profit before tax

1,311,119

2,310,071

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

327,780

577,518

Effects of:

Expenses not deductible for tax purposes

6,100

5,418

Income not taxable for tax purposes

(275,000

)

(749,374

)

Depreciation in excess of capital allowances

60,217

61,378

Loss carried forward

-

105,060

Total tax charge

119,097

-

11.	INTANGIBLE FIXED ASSETS

Other

intangible

fixed

assets

£

COST

At 6 April 2024

and 5 April 2025

2,040,221

AMORTISATION

At 6 April 2024

1,563,637

Amortisation for year

181,677

At 5 April 2025

1,745,314

NET BOOK VALUE

At 5 April 2025

294,907

At 5 April 2024

476,584

The goodwill arose on the purchase of 4 client portfolios. At the balance sheet date the remaining amortisation period is Nil months, 28 months, 66 months and 6 years respectively.

12.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 6 April 2024

32,793

126,366

833,656

992,815

Additions

-

-

81,914

81,914

At 5 April 2025

32,793

126,366

915,570

1,074,729

DEPRECIATION

At 6 April 2024

32,793

119,091

627,251

779,135

Charge for year

-

5,876

135,903

141,779

At 5 April 2025

32,793

124,967

763,154

920,914

NET BOOK VALUE

At 5 April 2025

-

1,399

152,416

153,815

At 5 April 2024

-

7,275

206,405

213,680

13.	FIXED ASSET INVESTMENTS

5.4.25

5.4.24

£

£

Shares in group undertakings

17,725,001

17,550,001

Loans to undertakings in which the company has a participating interest

500,000

500,000

18,225,001

18,050,001

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 6 April 2024

17,550,001

Additions

175,000

At 5 April 2025

17,725,001

NET BOOK VALUE

At 5 April 2025

17,725,001

At 5 April 2024

17,550,001